OneAscent Investment Solutions LLC Takes $996,000 Position in Alphabet Inc. $GOOGL

OneAscent Investment Solutions LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,440 shares of the information services provider's stock, valued at approximately $996,000. Alphabet comprises 1.2% of OneAscent Investment Solutions LLC's investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. grew its position in shares of Alphabet by 101.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 61,529 shares of the information services provider's stock valued at $9,515,000 after purchasing an additional 30,913 shares during the last quarter. Sit Investment Associates Inc. grew its position in shares of Alphabet by 3.7% in the first quarter. Sit Investment Associates Inc. now owns 286,181 shares of the information services provider's stock valued at $44,255,000 after purchasing an additional 10,218 shares during the last quarter. Holderness Investments Co. grew its position in shares of Alphabet by 1.8% in the first quarter. Holderness Investments Co. now owns 43,264 shares of the information services provider's stock valued at $6,690,000 after purchasing an additional 750 shares during the last quarter. Boston Partners grew its position in shares of Alphabet by 6.7% in the first quarter. Boston Partners now owns 6,490,867 shares of the information services provider's stock valued at $1,002,863,000 after purchasing an additional 406,565 shares during the last quarter. Finally, Turiya Advisors Asia Ltd acquired a new stake in shares of Alphabet in the first quarter valued at about $65,165,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $201.57 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a 50 day moving average of $185.26 and a 200-day moving average of $173.20. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were 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 owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction 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 trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,319 shares of company stock worth $44,243,272. Insiders own 11.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JMP Securities lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Needham & Company LLC lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

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.

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