Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Beckerman Institutional LLC

Key Points

• Beckerman Institutional LLC increased its holdings in Alphabet Inc. by 7.5% during the 1st quarter, bringing its total to 22,536 shares valued at $3,485,000.
• Alphabet reported earnings of $2.81 per share for the last quarter, exceeding analysts' expectations of $2.02, despite revenue of $76.49 billion falling short of the $89.30 billion estimate.
• The company declared a quarterly dividend of $0.21 per share, with a payment date set for September 15th, representing an annualized dividend yield of 0.43%.

Beckerman Institutional LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,536 shares of the information services provider's stock after acquiring an additional 1,569 shares during the period. Alphabet comprises 2.5% of Beckerman Institutional LLC's holdings, making the stock its 8th biggest position. Beckerman Institutional LLC's holdings in Alphabet were worth $3,485,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOGL. FMR LLC boosted its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors boosted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $193.18 on Friday. The stock's 50-day moving average is $175.77 and its two-hundred day moving average is $172.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

Several research firms have issued reports on GOOGL. Wedbush increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Citigroup raised their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. KeyCorp raised their price objective on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Mizuho decreased their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Ten 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. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.32.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. Insiders own 11.64% of the company's stock.

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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