Hendershot Investments Inc. Acquires 3,975 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Hendershot Investments Inc. increased its stake in Alphabet Inc. by 2.0% in Q1, acquiring an additional 3,975 shares, which now represents 4.3% of its portfolio, valued at approximately $31.79 million.
• Alphabet has announced a quarterly dividend of $0.21 per share, set to be paid on September 15, with an annual yield of 0.43%.
• Several analysts have recently raised their price targets for Alphabet, with a consensus target of $211.39 amid a strong buy sentiment from multiple financial institutions.

Hendershot Investments Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 205,581 shares of the information services provider's stock after acquiring an additional 3,975 shares during the quarter. Alphabet comprises approximately 4.3% of Hendershot Investments Inc.'s holdings, making the stock its 3rd largest holding. Hendershot Investments Inc.'s holdings in Alphabet were worth $31,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mystic Asset Management Inc. increased its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co increased its stake in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $3,119,000. Cypress Capital LLC increased its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after buying an additional 563 shares during the period. Finally, Optivise Advisory Services LLC increased its stake in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 over the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Stock Down 1.4%

Shares of GOOGL traded down $2.77 during midday trading on Friday, hitting $189.13. The company had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. The company's 50-day simple moving average is $177.91 and its 200-day simple moving average is $173.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 20.14, a P/E/G ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on GOOGL shares. Barclays raised their price target on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. JMP Securities lifted their target price on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Needham & Company LLC lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Finally, Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Ten investment 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.39.

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.