Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Boyd Watterson Asset Management LLC OH

Key Points

• Boyd Watterson Asset Management LLC OH increased its stake in Alphabet Inc. by 3.3%, acquiring 2,042 shares to bring its total holdings to 63,558 shares worth approximately $9.83 million.
• Insider transactions included Director John L. Hennessy selling 400 shares for about $72,792, while CEO Sundar Pichai sold 32,500 shares for nearly $5.99 million.
• Recent analyst upgrades raised Alphabet's target price with Barclays setting it at $235 and Royal Bank of Canada at $220, with a consensus rating of "Moderate Buy."

Boyd Watterson Asset Management LLC OH raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,558 shares of the information services provider's stock after acquiring an additional 2,042 shares during the quarter. Alphabet makes up 3.1% of Boyd Watterson Asset Management LLC OH's holdings, making the stock its 4th largest holding. Boyd Watterson Asset Management LLC OH's holdings in Alphabet were worth $9,829,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE lifted its holdings in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC lifted its holdings in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,399 shares of company stock worth $43,525,794. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.4%

Alphabet stock traded down $2.77 during trading on Friday, reaching $189.13. 34,777,882 shares of the company were exchanged, compared to its average volume of 38,669,572. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $2.30 trillion, a P/E ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01. 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 stock's 50 day simple moving average is $177.91 and its two-hundred day simple moving average is $173.12.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOGL shares. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. JMP Securities upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Cantor Fitzgerald upped their price objective on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Needham & Company LLC upped their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

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.