B&D White Capital Company LLC Purchases 278,535 Shares of Alphabet Inc. $GOOGL

Key Points

• B&D White Capital Company LLC increased its stake in Alphabet Inc. by 68.3%, owning a total of 686,567 shares now valued at approximately $106.17 million.
• Several institutional investors are actively investing in Alphabet, with notable increases including Guardian Wealth Management's 242.9% rise in shares during the first quarter.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Alphabet, with price targets lifted by several firms, including JPMorgan's increase to $232.00.

B&D White Capital Company LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 68.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,567 shares of the information services provider's stock after purchasing an additional 278,535 shares during the period. Alphabet comprises 15.3% of B&D White Capital Company LLC's portfolio, making the stock its largest position. B&D White Capital Company LLC's holdings in Alphabet were worth $106,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted 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. bought a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the first quarter worth $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Piper Sandler lifted their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Barclays lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Stock Down 0.6%

GOOGL stock opened at $207.14 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $210.52. The firm has a fifty day moving average price of $188.07 and a two-hundred day moving average price of $173.51. The firm has a market cap of $2.51 trillion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.40 and a beta of 1.01.

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

Alphabet Dividend Announcement

The company 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 dividend of $0.21 per share. 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%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's 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. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's 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 $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 over the last ninety days. Insiders own 11.55% of the company's stock.

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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