IPG Investment Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• IPG Investment Advisors LLC increased its stake in Alphabet Inc. by 68.6% during Q1, owning 7,910 shares valued at approximately $1.236 million.
• Alphabet's recent earnings report showed an EPS of $2.31, beating estimates and demonstrating a 13.8% year-over-year revenue growth with revenue reaching $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.4%, with a payout ratio of 8.95%.

IPG Investment Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 68.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,910 shares of the information services provider's stock after purchasing an additional 3,218 shares during the quarter. IPG Investment Advisors LLC's holdings in Alphabet were worth $1,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its position in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares in the last quarter. Capital International Investors raised its stake in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Capital Research Global Investors lifted its holdings in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alphabet by 2.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.5%

Shares of NASDAQ GOOG opened at $189.95 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.30 trillion, a PE ratio of 20.23, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a fifty day simple moving average of $179.37 and a 200-day simple moving average of $174.39.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

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 transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock valued at $43,525,794 in the last 90 days. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research increased their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

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.

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