OneAscent Family Office LLC Buys 3,373 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• OneAscent Family Office LLC significantly increased its holdings in Alphabet Inc. by 131.6% during the first quarter, owning 5,936 shares worth $926,000.
• Major research firms have upgraded their price targets for Alphabet, with Citigroup raising its target from $203 to $225 and reaffirming a "buy" rating.
• Alphabet has announced a quarterly dividend of $0.21 per share, translating to an annual yield of 0.43%, to be paid on September 15th.

OneAscent Family Office LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 131.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,936 shares of the information services provider's stock after acquiring an additional 3,373 shares during the quarter. Alphabet makes up about 0.9% of OneAscent Family Office LLC's holdings, making the stock its 27th largest position. OneAscent Family Office LLC's holdings in Alphabet were worth $926,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC lifted its stake in 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 purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Highview Capital Management LLC DE boosted its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC lifted its position in Alphabet by 22.7% in the fourth 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 own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL traded up $0.78 on Wednesday, reaching $196.53. 32,265,287 shares of the company's stock traded hands, compared to its average volume of 37,021,776. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a 50-day simple moving average of $177.49 and a 200-day simple moving average of $173.11. 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 firm has a market cap of $2.38 trillion, a PE ratio of 20.93, a P/E/G ratio of 1.30 and a beta of 1.00.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. BMO Capital Markets lifted their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada raised their target price on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citigroup upped their target price on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Ten 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $211.39.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,298 shares of company stock worth $43,505,967 in the last three months. 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.