Fjell Capital LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Fjell Capital LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 38.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,886 shares of the information services provider's stock after acquiring an additional 4,106 shares during the period. Alphabet comprises approximately 2.3% of Fjell Capital LLC's portfolio, making the stock its 17th biggest holding. Fjell Capital LLC's holdings in Alphabet were worth $2,302,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOGL. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $3,119,000. Optivise Advisory Services LLC raised its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares during the last quarter. Community Bank N.A. raised its holdings in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its position in Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after buying an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC grew its holdings in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Rosenblatt Securities restated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Piper Sandler increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Trading Up 0.1%

NASDAQ GOOGL opened at $168.21 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock's fifty day moving average price is $159.81 and its 200-day moving average price is $174.38. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the firm posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last 90 days. Corporate insiders own 11.64% of the company's stock.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.