Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 71.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 135,952 shares of the information services provider's stock after purchasing an additional 56,792 shares during the period. Alphabet makes up 0.3% of Forum Financial Management LP's investment portfolio, making the stock its 21st largest holding. Forum Financial Management LP's holdings in Alphabet were worth $21,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC raised its position 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 valued at $9,490,000 after buying an additional 371 shares during the last quarter. Brighton Jones LLC grew its stake in Alphabet by 3.9% during 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 boosted its stake 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 valued at $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE boosted its stake 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 valued at $5,509,000 after purchasing an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC boosted its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after acquiring an additional 13,564 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday. BMO Capital Markets raised their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday. DA Davidson increased their price target on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday. Ten investment 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. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $211.32.

Alphabet Trading Up 0.5%

Shares of GOOGL stock traded up $1.01 on Friday, reaching $193.18. 39,738,342 shares of the company's stock were exchanged, compared to its average volume of 41,427,228. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $175.77 and its 200 day simple moving average is $173.08. The stock has a market capitalization of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the business earned $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value 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 approximately $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business'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 value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 in the last ninety days. 11.64% of the stock is currently owned by insiders.

Alphabet 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.