one8zero8 LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• one8zero8 LLC increased its stake in Alphabet Inc. by 91.2% in Q1, owning 9,895 shares worth approximately $1.53 million after purchasing an additional 4,720 shares.
• Insider activity saw CEO Sundar Pichai selling 32,500 shares for about $5.8 million, which reduced his total holdings by 1.25%.
• Alphabet announced a $0.21 quarterly dividend to be paid on September 15, resulting in an annualized yield of 0.4%.

one8zero8 LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 91.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,895 shares of the information services provider's stock after purchasing an additional 4,720 shares during the period. one8zero8 LLC's holdings in Alphabet were worth $1,530,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Perritt Capital Management Inc raised its position in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC grew its holdings in Alphabet by 0.3% during 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 purchasing an additional 59 shares during the last quarter. Hanlon Investment Management Inc. grew its holdings in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth grew its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JMP Securities lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Mizuho decreased their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Needham & Company LLC lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Guggenheim lifted their price target 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. 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 company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.39.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.0%

Shares of GOOGL stock traded up $1.92 during mid-day trading on Tuesday, reaching $196.96. 7,310,044 shares of the stock traded hands, compared to its average volume of 36,916,590. The stock's fifty day simple moving average is $178.85 and its two-hundred day simple moving average is $172.81. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 20.99, 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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 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%.

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.