Alphabet Inc. $GOOG Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in Alphabet Inc. by 31.6% during Q1, owning 864,029 shares valued at approximately $134.99 million.
• Insider sales have occurred, with notable transactions including Kavitark Ram Shriram selling 18,566 shares and John Kent Walker selling 23,820 shares, representing significant decreases in their ownership positions.
• Alphabet's quarterly earnings showed a reported EPS of $2.31, exceeding estimates and leading to a revenue increase of 13.8% year-over-year.

Ieq Capital LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 31.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 864,029 shares of the information services provider's stock after buying an additional 207,571 shares during the period. Alphabet accounts for approximately 1.1% of Ieq Capital LLC's holdings, making the stock its 17th biggest position. Ieq Capital LLC's holdings in Alphabet were worth $134,987,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $47,225,230. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Scotiabank raised their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $1.16 during trading on Friday, reaching $213.53. The stock had a trading volume of 24,667,279 shares, compared to its average volume of 23,664,387. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business has a fifty day moving average price of $190.40 and a 200-day moving average price of $175.38. The stock has a market cap of $2.58 trillion, a PE ratio of 22.74, a PEG ratio of 1.40 and a beta of 1.02. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $215.34.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is 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.