North Capital Inc. Buys New Stake in Alphabet Inc. (NASDAQ:GOOGL)

North Capital Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,812 shares of the information services provider's stock, valued at approximately $899,000. Alphabet makes up 0.8% of North Capital Inc.'s holdings, making the stock its 16th largest holding.

Several other institutional investors also recently modified their holdings of GOOGL. Burt Wealth Advisors increased its stake in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares in the last quarter. Perritt Capital Management Inc increased its stake in shares of 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 purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC increased its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares in the last quarter. Hanlon Investment Management Inc. increased its stake in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth increased its stake in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 1.5%

Alphabet stock traded up $2.66 during mid-day trading on Friday, reaching $180.28. 19,182,837 shares of the company's stock were exchanged, compared to its average volume of 36,515,637. The company has a market cap of $2.19 trillion, a P/E ratio of 20.10, a P/E/G ratio of 1.24 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $169.99 and a 200-day moving average of $173.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. Stifel Nicolaus cut their target price on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.61.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 11.64% of the company's stock.

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.