Cheviot Value Management LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Cheviot Value Management LLC increased its stake in Alphabet Inc. by 4.0%, owning 205,100 shares valued at approximately $33.7 million, making it the firm's 5th largest holding.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with a payout ratio of 8.95% and a dividend yield of 0.4%.
• Analysts have generally maintained a positive outlook on Alphabet, with a consensus rating of "Moderate Buy" and an average price target of $211.53.

Cheviot Value Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,100 shares of the information services provider's stock after buying an additional 7,957 shares during the period. Alphabet makes up 4.1% of Cheviot Value Management LLC's portfolio, making the stock its 5th biggest position. Cheviot Value Management LLC's holdings in Alphabet were worth $33,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter valued at $39,000. Finally, Elite Financial Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOGL shares. Bank of America raised their price objective on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citigroup increased their price objective on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Piper Sandler increased their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Stock Performance

GOOGL stock traded down $1.03 during mid-day trading on Wednesday, hitting $202.31. 9,922,316 shares of the company were exchanged, compared to its average volume of 36,638,750. The business has a 50 day simple moving average of $182.27 and a 200-day simple moving average of $173.02. 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 stock has a market capitalization of $2.45 trillion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced 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 of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction 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 approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,219 shares of company stock valued at $49,674,273. 11.55% of the stock is currently owned by company insiders.

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.