Machina Capital S.A.S. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,033 shares of the information services provider's stock, valued at approximately $2,634,000.
Other institutional investors also recently modified their holdings of the company. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its stake 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 purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its stake in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC raised its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after purchasing an additional 13,564 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on GOOGL. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Needham & Company LLC increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Rosenblatt Securities increased their price target on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $211.39.
Check Out Our Latest Research Report on GOOGL
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated 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 $456,991,919.84. This represents a 1.25% decrease in their position. 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 value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock valued at $43,525,794. Insiders own 11.64% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded down $2.77 during midday trading on Friday, hitting $189.13. The stock had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. The company's 50-day moving average price is $178.32 and its 200-day moving average price is $173.12. The company has a market capitalization of $2.30 trillion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.
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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend 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%.
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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