Legato Capital Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 65.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,577 shares of the information services provider's stock after buying an additional 13,230 shares during the quarter. Alphabet accounts for about 0.7% of Legato Capital Management LLC's portfolio, making the stock its 19th biggest holding. Legato Capital Management LLC's holdings in Alphabet were worth $5,192,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GOOGL. Perritt Capital Management Inc increased its holdings in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares during the last quarter. Nia Impact Advisors LLC lifted its stake in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares during the last quarter. Hanlon Investment Management Inc. grew its position in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after acquiring an additional 60 shares during the period. Enzi Wealth grew its position in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Finally, Whipplewood Advisors LLC increased its stake in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Trading Up 0.4%
GOOGL traded up $0.78 during trading on Wednesday, hitting $196.53. 32,265,287 shares of the stock traded hands, compared to its average volume of 37,021,776. The firm has a market capitalization of $2.38 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $177.49 and a 200 day moving average of $173.11.
Alphabet Dividend Announcement
The business also recently declared 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. This represents a $0.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GOOGL. Needham & Company LLC boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. KeyCorp lifted their target price on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Truist Financial restated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.39.
View Our Latest Stock Report on Alphabet
Insiders Place Their Bets
In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred 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 sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,298 shares of company stock worth $43,505,967. Insiders own 11.64% of the company's stock.
About Alphabet
(
Free Report)
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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