Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Bearing Point Capital LLC

Key Points

• Bearing Point Capital LLC increased its position in Alphabet Inc. by 8.0%, purchasing an additional 2,814 shares, bringing its total holdings to 38,025 shares valued at approximately $5.88 million.
• Alphabet has announced a quarterly dividend of $0.21 per share, set to be paid on September 15th, with a dividend yield of 0.4%.
• Several analysts recently upgraded their price targets for Alphabet, with Piper Sandler raising the target from $195.00 to $220.00 and Barclays increasing theirs from $220.00 to $235.00, reflecting a consensus "Moderate Buy" rating.

Bearing Point Capital LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,025 shares of the information services provider's stock after purchasing an additional 2,814 shares during the quarter. Alphabet accounts for 1.3% of Bearing Point Capital LLC's investment portfolio, making the stock its 28th biggest holding. Bearing Point Capital LLC's holdings in Alphabet were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Perritt Capital Management Inc lifted its stake in shares of Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after acquiring an additional 59 shares during the period. Hanlon Investment Management Inc. increased its stake in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares in the last quarter. Enzi Wealth raised its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its position in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.1%

Alphabet stock traded up $5.91 during midday trading on Monday, hitting $195.04. 31,493,654 shares of the stock were exchanged, compared to its average volume of 37,132,445. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50 day moving average price of $178.32 and a two-hundred day moving average price of $172.82. The firm has a market cap of $2.36 trillion, a P/E ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. UBS Group raised their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Rosenblatt Securities upped their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wedbush lifted their price objective on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley increased their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.39.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's 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 sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,399 shares of company stock worth $43,525,794 over the last quarter. 11.55% of the stock is currently owned by insiders.

Alphabet 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.