Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Boosted by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,842 shares of the information services provider's stock after purchasing an additional 10,009 shares during the quarter. Alphabet comprises approximately 4.3% of Cornerstone Investment Partners LLC's portfolio, making the stock its 4th largest holding. Cornerstone Investment Partners LLC's holdings in Alphabet were worth $89,667,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. Elite Financial Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock traded up $1.48 on Friday, reaching $185.06. 33,864,714 shares of the stock were exchanged, compared to its average volume of 32,097,485. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $172.26 and a two-hundred day moving average price of $173.15. The firm has a market capitalization of $2.25 trillion, a PE ratio of 20.63, a PEG ratio of 1.28 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. As a group, research analysts anticipate 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. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Cantor Fitzgerald boosted their price target on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Morgan Stanley dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Roth Capital restated a "buy" rating and issued a $205.00 price target (up previously from $180.00) on shares of Alphabet in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $201.68.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,843 shares of company stock worth $37,288,490. 11.64% of the stock is 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.