Hamilton Capital Partners LLC Acquires 40,207 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hamilton Capital Partners LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,607 shares of the information services provider's stock after purchasing an additional 40,207 shares during the quarter. Alphabet makes up approximately 10.6% of Hamilton Capital Partners LLC's portfolio, making the stock its 2nd biggest position. Hamilton Capital Partners LLC's holdings in Alphabet were worth $16,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the 4th quarter worth $30,000. PayPay Securities Corp grew its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets reissued an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Cantor Fitzgerald decreased their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Tigress Financial raised their target price on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Trading Down 3.9%

Alphabet stock traded down $6.68 during mid-day trading on Friday, hitting $166.64. The company's stock had a trading volume of 75,073,701 shares, compared to its average volume of 30,587,197. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock's fifty day moving average is $164.77 and its two-hundred day moving average is $174.73. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results 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 firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last ninety days. Company insiders own 11.55% of the company's stock.

About Alphabet

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.