Charles Schwab Investment Management Inc. Has $5.96 Billion Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Alphabet Inc. by 0.3% in Q1, now holding approximately $5.96 billion worth of shares.
• Many hedge funds reported increased holdings in Alphabet, with 40.03% of the stock owned by institutional investors.
• Alphabet's recent earnings showed an EPS of $2.31, exceeding expectations, along with a declared quarterly dividend of $0.21 per share.

Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,556,577 shares of the information services provider's stock after acquiring an additional 104,859 shares during the period. Alphabet makes up 1.1% of Charles Schwab Investment Management Inc.'s investment portfolio, making the stock its 7th biggest position. Charles Schwab Investment Management Inc. owned about 0.32% of Alphabet worth $5,962,389,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GOOGL. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% in the fourth 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 increased its holdings in shares of Alphabet by 3.9% in the fourth 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 increased its holdings in shares of Alphabet by 3.5% in the fourth 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 increased its holdings in shares of Alphabet by 3.6% in the fourth 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 increased its holdings in shares of Alphabet by 22.7% in the fourth 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. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Capital lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Citigroup upped their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Barclays upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,219 shares of company stock worth $49,674,273. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Down 0.7%

NASDAQ:GOOGL opened at $201.96 on Thursday. The company's 50 day moving average price is $182.95 and its 200-day moving average price is $173.22. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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 net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Alphabet Company 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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