Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its stake in Alphabet Inc. by 32.5% during the first quarter, now holding 102,866 shares valued at approximately $15.9 million.
• Insider transactions revealed that CEO Sundar Pichai sold 32,500 shares for nearly $5.8 million, resulting in a 1.25% decrease in his ownership.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in a 0.4% dividend yield for shareholders as of the record date.

MGO One Seven LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 102,866 shares of the information services provider's stock after acquiring an additional 25,249 shares during the period. Alphabet comprises about 0.6% of MGO One Seven LLC's holdings, making the stock its 23rd biggest holding. MGO One Seven LLC's holdings in Alphabet were worth $15,907,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its position in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its stake in shares of Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm'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 sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $196.52 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 company has a market capitalization of $2.38 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a 50 day moving average of $180.26 and a 200 day moving average of $173.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business 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%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JMP Securities increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Guggenheim lifted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler boosted their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

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.

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