Gordian Capital Singapore Pte Ltd increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,535 shares of the information services provider's stock after purchasing an additional 3,600 shares during the quarter. Alphabet comprises about 1.3% of Gordian Capital Singapore Pte Ltd's holdings, making the stock its 17th largest position. Gordian Capital Singapore Pte Ltd's holdings in Alphabet were worth $2,092,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its position in shares of Alphabet by 9.1% in the first quarter. Canada Pension Plan Investment Board now owns 11,713,818 shares of the information services provider's stock worth $1,811,425,000 after buying an additional 978,593 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its position in shares of Alphabet by 7.8% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 120,889 shares of the information services provider's stock valued at $18,694,000 after acquiring an additional 8,786 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Alphabet during the first quarter worth about $644,000. Siren L.L.C. increased its position in shares of Alphabet by 624.3% in the first quarter. Siren L.L.C. now owns 50,703 shares of the information services provider's stock worth $7,841,000 after purchasing an additional 43,703 shares during the last quarter. Finally, TD Capital Management LLC lifted its position in Alphabet by 16.1% during the first quarter. TD Capital Management LLC now owns 922 shares of the information services provider's stock valued at $143,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Down 1.1%
Shares of GOOGL traded down $2.40 during mid-day trading on Tuesday, reaching $210.51. The company had a trading volume of 27,337,684 shares, compared to its average volume of 36,138,063. The company has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The firm has a 50-day moving average price of $191.39 and a 200 day moving average price of $174.16. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $214.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side 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 given a dividend of $0.21 per share. 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%.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $47,225,230. 11.55% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms have recently issued reports on GOOGL. KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Westpark Capital boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, August 21st. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.79.
Read Our Latest Stock Analysis on GOOGL
Alphabet Profile
(
Free Report)
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.
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