Capital Impact Advisors LLC Makes New $17.47 Million Investment in Alphabet Inc. $GOOGL

Key Points

• Capital Impact Advisors LLC made a new investment of $17.47 million in Alphabet Inc., acquiring 112,962 shares, making it the firm's largest position at about 6.7% of their holdings.
• Insider trading activity included the sale of 1,000 shares by Director John L. Hennessy and 32,500 shares by CEO Sundar Pichai, signaling a decrease in ownership for both executives.
• Alphabet has a market cap of $2.90 trillion and has recently reported earnings exceeding analysts' expectations, with a quarterly revenue of $96.43 billion.

Capital Impact Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 112,962 shares of the information services provider's stock, valued at approximately $17,468,000. Alphabet makes up about 6.7% of Capital Impact Advisors LLC's holdings, making the stock its biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flaharty Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $113,000. Strive Asset Management LLC boosted its stake in shares of Alphabet by 41.1% during the first quarter. Strive Asset Management LLC now owns 1,625 shares of the information services provider's stock valued at $251,000 after purchasing an additional 473 shares during the period. Integrity Alliance LLC. boosted its stake in shares of Alphabet by 346.9% during the first quarter. Integrity Alliance LLC. now owns 101,698 shares of the information services provider's stock valued at $15,727,000 after purchasing an additional 78,941 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Alphabet during the first quarter valued at approximately $9,102,000. Finally, Anchor Investment Management LLC boosted its stake in shares of Alphabet by 1.6% during the first quarter. Anchor Investment Management LLC now owns 104,476 shares of the information services provider's stock valued at $16,156,000 after purchasing an additional 1,677 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 over the last ninety days. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

GOOGL opened at $239.63 on Wednesday. The stock has a fifty day simple moving average of $198.22 and a two-hundred day simple moving average of $176.17. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.90 trillion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $240.47.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. 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 is 8.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOGL shares. UBS Group increased their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, KeyCorp raised their price target on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.44.

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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