Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Fountainhead AM LLC

Key Points

• Fountainhead AM LLC increased its position in Alphabet Inc. by 36.1% in Q1, owning 14,066 shares valued at approximately $2.17 million as per its latest SEC filing.
• Analyst upgrades for Alphabet include price targets raised by Guggenheim to $210, and Wedbush to $225, with a consensus rating of "Moderate Buy" and an average price target of $211.32.
• Alphabet announced a quarterly dividend of $0.21 per share, with the payment scheduled for September 15th, resulting in an annualized yield of 0.43%.

Fountainhead AM LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,066 shares of the information services provider's stock after purchasing an additional 3,729 shares during the period. Fountainhead AM LLC's holdings in Alphabet were worth $2,175,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Perritt Capital Management Inc raised its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC raised its holdings in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares in the last quarter. Hanlon Investment Management Inc. raised its holdings in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares in the last quarter. Enzi Wealth raised its holdings in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its holdings in shares of Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. Guggenheim raised their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday. Wedbush raised their price target on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday. Cantor Fitzgerald raised their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday. Mizuho cut their target price 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, Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten investment 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.32.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction 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 transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.5%

Shares of GOOGL stock opened at $193.18 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $175.77 and a 200-day simple moving average of $172.93. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $2.34 trillion, a P/E ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet's dividend payout ratio (DPR) is 8.95%.

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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