Requisite Capital Management LLC Acquires 2,338 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Requisite Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 100.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,672 shares of the information services provider's stock after buying an additional 2,338 shares during the quarter. Requisite Capital Management LLC's holdings in Alphabet were worth $722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Westpark Capital reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Truist Financial dropped their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Mizuho decreased their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup lifted their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 1.4%

Shares of GOOGL stock traded up $2.51 during trading hours on Tuesday, hitting $178.60. 61,705,672 shares of the company were exchanged, compared to its average volume of 30,325,150. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $160.52 and a two-hundred day moving average of $174.46. The company has a market capitalization of $2.17 trillion, a PE ratio of 22.19, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.