Alphabet Inc. $GOOGL Stock Position Raised by Quarry LP

Key Points

• Quarry LP significantly increased its holdings in Alphabet Inc. by 2,747.3% during the first quarter, owning 6,435 shares worth approximately $995,000.
• Analysts have mixed perspectives on GOOGL, with ratings ranging from "strong-buy" to "hold," and a consensus price target set at $211.53.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annualized dividend of $0.84 with a yield of 0.4%.

Quarry LP boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2,747.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,435 shares of the information services provider's stock after purchasing an additional 6,209 shares during the period. Quarry LP's holdings in Alphabet were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Citigroup lifted their price objective on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, August 21st. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Stock Up 0.6%

Shares of GOOGL opened at $212.91 on Friday. The company has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $214.65. The business's 50 day simple moving average is $190.44 and its 200-day simple moving average is $174.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $47,225,230. 11.64% of the stock is currently owned by insiders.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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