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Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Increased by Ironwood Investment Counsel LLC

Alphabet logo with Computer and Technology background

Key Points

  • Ironwood Investment Counsel LLC increased its stake in Alphabet Inc. by 3.6% in the first quarter, now owning 76,498 shares valued at approximately $11.83 million.
  • Several institutional investors have also modified their holdings, with CenterBook Partners LP growing its stake by 43.8% to 194,231 shares worth $30 million.
  • Alphabet declared a quarterly dividend of $0.21 per share, reflecting an annualized amount of $0.84 and a dividend yield of 0.4%.
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Ironwood Investment Counsel LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,498 shares of the information services provider's stock after acquiring an additional 2,661 shares during the quarter. Alphabet accounts for about 2.0% of Ironwood Investment Counsel LLC's portfolio, making the stock its 6th largest position. Ironwood Investment Counsel LLC's holdings in Alphabet were worth $11,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GOOGL. CenterBook Partners LP grew its stake in shares of Alphabet by 43.8% during the first quarter. CenterBook Partners LP now owns 194,231 shares of the information services provider's stock worth $30,036,000 after purchasing an additional 59,184 shares in the last quarter. Keynote Financial Services LLC grew its stake in shares of Alphabet by 0.6% during the first quarter. Keynote Financial Services LLC now owns 15,536 shares of the information services provider's stock worth $2,402,000 after purchasing an additional 98 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Alphabet during the first quarter worth $18,371,000. Battery Global Advisors LLC acquired a new position in shares of Alphabet during the first quarter worth $649,000. Finally, Waycross Partners LLC grew its stake in shares of Alphabet by 23.6% during the first quarter. Waycross Partners LLC now owns 252,904 shares of the information services provider's stock worth $39,109,000 after purchasing an additional 48,277 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.7%

Shares of GOOGL opened at $201.96 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $182.95 and its two-hundred day moving average is $173.22. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market capitalization of $2.44 trillion, a P/E ratio of 21.51, a PEG ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Citigroup boosted their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Barclays boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Truist Financial reissued a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Get Our Latest Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 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 $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,219 shares of company stock valued at $49,674,273 over the last three months. Company insiders own 11.64% of the company's stock.

Alphabet Profile

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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