Alphabet Inc. (NASDAQ:GOOGL) is Kirtland Hills Capital Management LLC's 9th Largest Position

Key Points

• Kirtland Hills Capital Management LLC increased its holdings in Alphabet Inc. by 29.2% in Q1, owning 23,817 shares valued at approximately $3.6 million.
• Alphabet's recent quarterly earnings exceeded expectations with an EPS of $2.31, surpassing the consensus estimate of $2.15.
• The company announced a quarterly dividend of $0.21, reflecting an annual yield of 0.4%, and will be paid to shareholders of record on September 8th.

Kirtland Hills Capital Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 29.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,817 shares of the information services provider's stock after acquiring an additional 5,386 shares during the quarter. Alphabet makes up 2.2% of Kirtland Hills Capital Management LLC's portfolio, making the stock its 9th largest holding. Kirtland Hills Capital Management LLC's holdings in Alphabet were worth $3,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the first quarter valued at about $39,000. Finally, Elite Financial Inc. bought a new stake in Alphabet during the first quarter valued at about $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $0.43 during trading on Thursday, hitting $196.52. The stock had a trading volume of 26,014,319 shares, compared to its average volume of 36,916,484. The stock has a 50-day simple moving average of $179.76 and a two-hundred day simple moving average of $173.12. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared 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. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analysts Set New Price Targets

A number of research analysts recently commented on GOOGL shares. JMP Securities boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. BMO Capital Markets boosted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wedbush lifted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock valued at $49,474,273 over the last quarter. 11.64% of the stock is currently owned by company insiders.

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.