Global Endowment Management LP Acquires 2,223 Shares of Alphabet Inc. $GOOGL

Key Points

• Global Endowment Management LP increased its holdings in Alphabet Inc. by 21.0%, owning a total of 12,784 shares worth approximately $1.98 million after acquiring an additional 2,223 shares in Q1.
• Alphabet announced a quarterly dividend of $0.21 per share, with a 0.4% yield, to be paid on September 15th.
• Several analysts have revised their price targets for Alphabet, with KeyCorp raising its target to $230.00, indicating a positive outlook for the company's stock performance.

Global Endowment Management LP boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,784 shares of the information services provider's stock after buying an additional 2,223 shares during the quarter. Global Endowment Management LP's holdings in Alphabet were worth $1,977,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOGL. Eagle Capital Management LLC lifted its holdings in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the 4th 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 lifted its stake in shares of Alphabet by 3.6% in the 4th 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 lifted its stake in shares of Alphabet by 22.7% in 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 purchasing an additional 13,564 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock worth $47,223,172 over the last 90 days. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Up 3.2%

Shares of GOOGL traded up $6.34 during midday trading on Friday, hitting $206.09. The stock had a trading volume of 42,770,206 shares, compared to its average volume of 31,218,810. The firm has a market cap of $2.49 trillion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a 50 day simple moving average of $186.81 and a two-hundred day simple moving average of $173.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $208.54.

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

Alphabet Dividend Announcement

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 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Rosenblatt Securities increased their price target on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Finally, Wedbush increased their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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.