Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by John G Ullman & Associates Inc.

Key Points

• John G Ullman & Associates Inc. increased its stake in Alphabet Inc. by 999.7%, acquiring an additional 19,325 shares in the first quarter, bringing their total holdings to 21,258 shares valued at approximately $3.29 million.
• Several analysts have raised their target prices for Alphabet, with Susquehanna increasing it from $220.00 to $225.00, contributing to a consensus rating of "Moderate Buy" and an average price target of $211.39.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.4% and a payout ratio of 8.95%, with the dividend payment date set for September 15th.

John G Ullman & Associates Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 999.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,258 shares of the information services provider's stock after buying an additional 19,325 shares during the period. John G Ullman & Associates Inc.'s holdings in Alphabet were worth $3,287,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new stake in Alphabet in the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors boosted its holdings in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Guggenheim raised their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday. Mizuho decreased their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, JMP Securities lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $2.77 during trading on Friday, reaching $189.13. The stock had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. 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 $178.32 and a 200-day moving average price of $173.12. The stock has a market cap of $2.30 trillion, a PE ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend 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 currently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 over the last ninety days. Insiders own 11.64% 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.