Alphabet Inc. (NASDAQ:GOOGL) is Pallas Capital Advisors LLC's 10th Largest Position

Pallas Capital Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,451 shares of the information services provider's stock after buying an additional 2,168 shares during the period. Alphabet makes up 1.1% of Pallas Capital Advisors LLC's investment portfolio, making the stock its 10th biggest holding. Pallas Capital Advisors LLC's holdings in Alphabet were worth $27,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of Alphabet by 23.0% during the 1st quarter. Farther Finance Advisors LLC now owns 143,514 shares of the information services provider's stock valued at $22,542,000 after purchasing an additional 26,877 shares in the last quarter. Daymark Wealth Partners LLC grew its position in Alphabet by 1.6% during the first quarter. Daymark Wealth Partners LLC now owns 295,741 shares of the information services provider's stock worth $45,733,000 after buying an additional 4,744 shares in the last quarter. Destiny Wealth Partners LLC increased its stake in Alphabet by 5.6% in the 1st quarter. Destiny Wealth Partners LLC now owns 39,073 shares of the information services provider's stock worth $6,042,000 after acquiring an additional 2,078 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its holdings in shares of Alphabet by 2.3% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 37,804 shares of the information services provider's stock valued at $5,846,000 after acquiring an additional 834 shares in the last quarter. Finally, Wiser Wealth Management Inc boosted its position in shares of Alphabet by 2.9% during the 1st quarter. Wiser Wealth Management Inc now owns 3,647 shares of the information services provider's stock valued at $564,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Tigress Financial lifted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, UBS Group set a $195.00 price objective on Alphabet in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $0.18 during midday trading on Wednesday, reaching $178.78. 12,227,684 shares of the company's stock traded hands, compared to its average volume of 30,282,094. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a 50 day moving average of $161.08 and a 200 day moving average of $174.49. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock worth $32,036,638. 11.64% of the stock is owned by insiders.

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.