Belmont Capital LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,940 shares of the information services provider's stock after buying an additional 4,840 shares during the period. Alphabet makes up 1.4% of Belmont Capital LLC's holdings, making the stock its 13th biggest position. Belmont Capital LLC's holdings in Alphabet were worth $7,723,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in shares of Alphabet by 0.4% in the first quarter. Alliancebernstein L.P. now owns 10,171,021 shares of the information services provider's stock worth $1,572,847,000 after buying an additional 41,660 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Alphabet by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,160,455 shares of the information services provider's stock worth $479,220,000 after buying an additional 444,588 shares in the last quarter. Advisors Asset Management Inc. increased its position in Alphabet by 1.8% during the first quarter. Advisors Asset Management Inc. now owns 596,896 shares of the information services provider's stock worth $92,304,000 after purchasing an additional 10,327 shares during the last quarter. Alexis Investment Partners LLC increased its position in Alphabet by 4.4% during the first quarter. Alexis Investment Partners LLC now owns 3,367 shares of the information services provider's stock worth $520,000 after purchasing an additional 142 shares during the last quarter. Finally, American Trust Investment Advisors LLC increased its position in Alphabet by 1.1% during the first quarter. American Trust Investment Advisors LLC now owns 38,438 shares of the information services provider's stock worth $5,944,000 after purchasing an additional 416 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Up 1.2%
Shares of GOOGL stock traded up $2.70 during trading on Friday, reaching $235.00. The company's stock had a trading volume of 46,562,292 shares, compared to its average volume of 33,713,716. 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 market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.56 and a beta of 1.01. The stock's 50-day moving average price is $195.79 and its 200 day moving average price is $175.48. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $235.76.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 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%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
Insider Buying and Selling
In other Alphabet news, 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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last quarter. Company insiders own 11.64% of the company's stock.
Analyst Ratings Changes
GOOGL has been the subject of several recent analyst reports. Citigroup restated an "outperform" rating on shares of Alphabet in a research report on Wednesday. Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Friday. Sanford C. Bernstein lifted their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. BMO Capital Markets lifted their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their target price on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.33.
Get Our Latest Stock Report on GOOGL
About Alphabet
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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.
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