Aigen Investment Management LP lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 338.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,362 shares of the information services provider's stock after acquiring an additional 9,542 shares during the quarter. Aigen Investment Management LP's holdings in Alphabet were worth $1,912,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Nia Impact Advisors LLC raised its holdings in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 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. 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. Aspire Capital Advisors LLC raised its holdings in shares of Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after purchasing an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. raised its holdings in shares of Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 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 Analysts Forecast Growth
A number of equities research analysts have recently weighed in on GOOGL shares. Bank of America raised their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. DA Davidson raised their price objective on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. KeyCorp raised their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Susquehanna raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Finally, BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.53.
Read Our Latest Research Report on GOOGL
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,819 shares of company stock worth $49,796,547. Insiders own 11.64% of the company's stock.
Alphabet Stock Up 0.5%
Shares of NASDAQ GOOGL opened at $203.90 on Friday. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a 50-day moving average price of $184.25 and a 200 day moving average price of $173.20. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company 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%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced 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. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
About Alphabet
(
Free Report)
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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