Callan Capital LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Callan Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,312 shares of the information services provider's stock after acquiring an additional 1,828 shares during the period. Alphabet makes up approximately 0.6% of Callan Capital LLC's holdings, making the stock its 29th biggest holding. Callan Capital LLC's holdings in Alphabet were worth $8,399,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. Elite Financial Inc. bought a new position in Alphabet in the 1st quarter valued at $42,000. Anderson Financial Strategies LLC bought a new position in Alphabet in the 4th quarter valued at $49,000. EQ Wealth Advisors LLC bought a new position in Alphabet in the 1st quarter valued at $49,000. Finally, Navigoe LLC bought a new position in Alphabet in the 4th quarter valued at $51,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. DA Davidson dropped their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased their price target on Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.61.

Alphabet Trading Up 1.4%

GOOGL opened at $180.19 on Monday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day moving average price of $170.32 and a 200 day moving average price of $173.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,443 shares of company stock valued at $36,298,548 in the last three months. 11.55% of the stock is owned by corporate 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.

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