Elyxium Wealth LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Elyxium Wealth LLC increased its stake in Alphabet Inc. by 315.7% during Q1, acquiring a total of 16,448 shares valued at approximately $2.54 million.
• Recent analyst ratings show a mix of adjustments, with Mizuho lowering its target price to $205 while JPMorgan raised it to $232, reflecting a consensus average target of $211.32.
• Alphabet declared a quarterly dividend of $0.21 per share, marking an annualized yield of 0.43%, with the ex-dividend date set for September 8.

Elyxium Wealth LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 315.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,448 shares of the information services provider's stock after purchasing an additional 12,491 shares during the period. Alphabet accounts for about 1.1% of Elyxium Wealth LLC's portfolio, making the stock its 22nd largest position. Elyxium Wealth LLC's holdings in Alphabet were worth $2,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GOOGL. FMR LLC increased its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at about $24,383,677,000. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. DA Davidson increased their price target on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Guggenheim upped their target price on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group raised their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Ten investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.39.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,298 shares of company stock worth $43,505,967. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL traded up $0.78 on Wednesday, hitting $196.53. 32,265,287 shares of the company traded hands, compared to its average volume of 37,021,776. The company has a 50 day moving average of $177.49 and a 200-day moving average of $173.11. 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 $2.38 trillion, a PE ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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 paid 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 0.43%. Alphabet's dividend payout ratio (DPR) is 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.