Alphabet Inc. $GOOGL is Nutshell Asset Management Ltd's 4th Largest Position

Nutshell Asset Management Ltd lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,450 shares of the information services provider's stock after acquiring an additional 28,500 shares during the period. Alphabet accounts for approximately 7.0% of Nutshell Asset Management Ltd's investment portfolio, making the stock its 4th biggest holding. Nutshell Asset Management Ltd's holdings in Alphabet were worth $13,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GOOGL. Telemark Asset Management LLC grew its position in Alphabet by 33.3% during the 1st quarter. Telemark Asset Management LLC now owns 80,000 shares of the information services provider's stock worth $12,371,000 after purchasing an additional 20,000 shares during the period. Union Heritage Capital LLC acquired a new stake in Alphabet during the 1st quarter worth about $1,225,000. Flagship Wealth Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth about $724,000. Fayez Sarofim & Co grew its position in Alphabet by 20.3% during the 1st quarter. Fayez Sarofim & Co now owns 103,800 shares of the information services provider's stock worth $16,052,000 after purchasing an additional 17,511 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Alphabet by 15.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 15,665,356 shares of the information services provider's stock worth $2,422,491,000 after purchasing an additional 2,132,202 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOGL traded down $1.31 during mid-day trading on Monday, reaching $202.59. 8,791,928 shares of the company's stock were exchanged, compared to its average volume of 36,495,262. 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 company has a 50-day simple moving average of $184.25 and a two-hundred day simple moving average of $173.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.37 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. Roth Capital increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Guggenheim boosted their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. JMP Securities raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet 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.