In Depth Partners LLC Sells 10,771 Shares of Alphabet Inc. $GOOGL

Key Points

• In Depth Partners LLC decreased its Alphabet Inc. (GOOGL) position by 28.6%, selling 10,771 shares and retaining 26,948 shares in its portfolio, which now represents approximately 4.8% of its total investments.
• Wall Street analysts have raised price targets for Alphabet, with Stifel Nicolaus setting a new target of $218.00, and overall, analysts have a consensus price target of $211.53 on the stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, expected to yield 0.4% annually, further indicating its commitment to returning value to shareholders.

In Depth Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 26,948 shares of the information services provider's stock after selling 10,771 shares during the period. Alphabet comprises approximately 4.8% of In Depth Partners LLC's portfolio, making the stock its 9th biggest holding. In Depth Partners LLC's holdings in Alphabet were worth $4,167,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC grew its position in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% in the fourth 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 last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during 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 buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE increased its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald raised their price target on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Wedbush raised their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Barclays raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Price Performance

GOOGL opened at $207.14 on Wednesday. The company's 50 day simple moving average is $188.07 and its 200 day simple moving average is $173.51. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $210.52. The stock has a market capitalization of $2.51 trillion, a PE ratio of 22.06, a P/E/G ratio of 1.40 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 over the last ninety days. 11.55% of the stock is owned by insiders.

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.

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