Alphabet Inc. (NASDAQ:GOOGL) is Elefante Mark B's 6th Largest Position

Key Points

• Elefante Mark B has increased its holdings in Alphabet Inc. by 17.5% in the first quarter, now ranking it as the firm's 6th largest position.
• A majority of analysts maintain a positive outlook on Alphabet, with 29 buy ratings among ten analysts keeping a hold rating and a price target averaging $211.39.
• Alphabet's CEO, Sundar Pichai, sold 32,500 shares of the stock recently, reflecting a 1.25% decrease in his position, while corporate insiders sold a total of 249,399 shares over the last three months.

Elefante Mark B grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,096 shares of the information services provider's stock after purchasing an additional 5,090 shares during the period. Alphabet makes up about 4.2% of Elefante Mark B's holdings, making the stock its 6th biggest position. Elefante Mark B's holdings in Alphabet were worth $5,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC increased its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Highview Capital Management LLC DE increased its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC raised its stake in shares of Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after acquiring an additional 13,564 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Rosenblatt Securities raised their price target on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Guggenheim boosted their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Stock Down 1.4%

Shares of Alphabet stock opened at $189.13 on Friday. 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 1-year low of $140.53 and a 1-year high of $207.05. The business has a 50-day moving average of $178.32 and a 200-day moving average of $173.12. The company has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a P/E/G ratio of 1.30 and a beta of 1.01.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $43,525,794 over the last three months. Corporate insiders own 11.64% of the company's stock.

Alphabet Company Profile

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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