Hamilton Capital LLC Acquires 1,341 Shares of Alphabet Inc. $GOOGL

Key Points

• Hamilton Capital LLC increased its stake in Alphabet Inc. by 22.4%, resulting in ownership of 7,341 shares worth approximately $1.14 million.
• Alphabet has seen recent upgrades from analysts, with price targets rising from $200.00 to $232.00, reflecting a positive outlook with an average target price of $222.33.
• The company announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, indicating a commitment to returning value to shareholders.

Hamilton Capital LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,341 shares of the information services provider's stock after acquiring an additional 1,341 shares during the period. Hamilton Capital LLC's holdings in Alphabet were worth $1,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nia Impact Advisors LLC lifted its holdings in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the period. Enzi Wealth lifted its holdings in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last quarter. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Royal Bank Of Canada upped their price objective on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Tigress Financial upped their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday. Rosenblatt Securities upped their price objective on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, DA Davidson upped their price objective on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $221.44.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $5.59 during trading on Tuesday, hitting $239.63. 37,672,216 shares of the stock were exchanged, compared to its average volume of 34,417,184. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $240.47. The company has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company's fifty day simple moving average is $198.22 and its 200-day simple moving average is $176.17. 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 data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 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.