Kapitalo Investimentos Ltda Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Kapitalo Investimentos Ltda has made a new investment of approximately $15.54 million in Alphabet Inc., acquiring 100,458 shares, which represents around 3.2% of its total holdings.
• Alphabet recently announced a quarterly dividend of $0.21 per share, to be paid on September 15th, which reflects an annualized yield of 0.4%.
• Several analysts have raised their price targets for Alphabet, with KeyCorp setting a new price objective of $230.00, indicating positive sentiment around the stock's outlook.

Kapitalo Investimentos Ltda acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 100,458 shares of the information services provider's stock, valued at approximately $15,535,000. Alphabet comprises approximately 3.2% of Kapitalo Investimentos Ltda's portfolio, making the stock its 10th biggest holding.

Several other hedge funds have also modified their holdings of the company. Bearing Point Capital LLC lifted its holdings in shares of Alphabet by 8.0% in the 1st quarter. Bearing Point Capital LLC now owns 38,025 shares of the information services provider's stock worth $5,880,000 after acquiring an additional 2,814 shares during the last quarter. Serenus Wealth Advisors LLC boosted its position in shares of Alphabet by 11.2% during the first quarter. Serenus Wealth Advisors LLC now owns 705,207 shares of the information services provider's stock valued at $109,053,000 after buying an additional 70,775 shares during the period. Allium Financial Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $958,000. Security Financial Services INC. raised its holdings in shares of Alphabet by 3.3% in the first quarter. Security Financial Services INC. now owns 2,861 shares of the information services provider's stock worth $442,000 after buying an additional 91 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC boosted its holdings in Alphabet by 0.7% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,358 shares of the information services provider's stock valued at $1,602,000 after acquiring an additional 70 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's 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 sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $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 have sold a total of 249,399 shares of company stock worth $43,525,794 in the last quarter. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Roth Capital boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wedbush boosted their price target on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. KeyCorp lifted their target price on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet Stock Performance

GOOGL stock traded up $5.91 during trading on Monday, hitting $195.04. The company had a trading volume of 31,493,654 shares, compared to its average volume of 37,132,445. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a 50-day moving average price of $178.32 and a 200-day moving average price of $172.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.36 trillion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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