M. Kulyk & Associates LLC Has $13.02 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• M. Kulyk & Associates LLC increased its investment in Alphabet Inc. by 3.8% in the first quarter, now holding 84,196 shares valued at approximately $13.02 million, making Alphabet its 8th largest position.
• Multiple analysts raised their price targets on Alphabet stock recently, with targets ranging from $180 to $220, reflecting a generally positive outlook with a consensus rating of "Moderate Buy".
• Alphabet announced a quarterly dividend of $0.21 per share, which will be paid on September 15, contributing to an annualized yield of 0.43%.

M. Kulyk & Associates LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,196 shares of the information services provider's stock after purchasing an additional 3,120 shares during the quarter. Alphabet comprises 3.0% of M. Kulyk & Associates LLC's portfolio, making the stock its 8th biggest holding. M. Kulyk & Associates LLC's holdings in Alphabet were worth $13,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. von Borstel & Associates Inc. bought a new position in Alphabet during the first quarter worth about $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $39,000. Elite Financial Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $49,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $49,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Sanford C. Bernstein upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Roth Capital lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Guggenheim lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $211.39.

Alphabet Stock Performance

Shares of GOOGL traded down $2.77 during trading hours on Friday, hitting $189.13. The company's stock had a trading volume of 34,777,882 shares, compared to its average volume of 37,170,977. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $177.91 and a two-hundred day simple moving average of $173.12. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet Dividend Announcement

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 paid 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 payout ratio is currently 8.95%.

Insider Buying and Selling

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

Alphabet 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.