Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Davis Rea LTD.

Key Points

• Davis Rea LTD. increased its stake in Alphabet Inc. by 173.7%, owning a total of 161,427 shares worth approximately $24.96 million by the end of the latest quarter.
• Several institutional investors, including FMR LLC and Norges Bank, also raised their positions in Alphabet during the fourth quarter, reflecting growing institutional interest in the company.
• Alphabet recently declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.4% and a low dividend payout ratio of 8.95%.

Davis Rea LTD. lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 173.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 161,427 shares of the information services provider's stock after purchasing an additional 102,438 shares during the period. Alphabet accounts for about 6.6% of Davis Rea LTD.'s investment portfolio, making the stock its 2nd biggest position. Davis Rea LTD.'s holdings in Alphabet were worth $24,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,399 shares of company stock worth $43,525,794. Insiders own 11.64% of the company's stock.

Alphabet Price Performance

GOOGL stock traded down $2.77 during mid-day trading on Friday, reaching $189.13. The company's stock had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. The stock has a market cap of $2.30 trillion, a PE ratio of 20.14, a P/E/G ratio of 1.30 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company's 50 day moving average is $178.32 and its two-hundred day moving average is $173.12.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. 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 dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Wedbush upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. BMO Capital Markets upped their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citigroup upped their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.