Pallas Capital Advisors LLC Acquires 2,168 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pallas Capital Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,451 shares of the information services provider's stock after acquiring an additional 2,168 shares during the period. Alphabet comprises approximately 1.1% of Pallas Capital Advisors LLC's holdings, making the stock its 10th largest holding. Pallas Capital Advisors LLC's holdings in Alphabet were worth $27,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Compass Planning Associates Inc bought a new stake in Alphabet during the 4th quarter worth about $30,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $49,000. Navigoe LLC acquired a new stake in Alphabet during the 4th quarter worth $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the 4th quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets restated an "outperform" rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Cantor Fitzgerald dropped their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $2.51 during mid-day trading on Tuesday, reaching $178.60. 61,705,672 shares of the company were exchanged, compared to its average volume of 30,325,150. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 22.19, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company's 50-day simple moving average is $160.52 and its 200-day simple moving average is $174.46. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

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

Alphabet Increases Dividend

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

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.