Pandora Wealth Inc. Buys New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Pandora Wealth Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,666 shares of the information services provider's stock, valued at approximately $722,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Eagle Capital Management LLC raised its position in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC increased its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in shares of 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 worth $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC grew its holdings in shares of Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GOOGL shares. Loop Capital reaffirmed a "hold" rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Rosenblatt Securities upped their price target on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $211.53.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,819 shares of company stock valued at $49,796,547 over the last quarter. Insiders own 11.64% of the company's stock.

Alphabet Stock Up 0.5%

Shares of NASDAQ:GOOGL opened at $203.90 on Friday. The company has a market capitalization of $2.47 trillion, a P/E ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. The stock's fifty day simple moving average is $184.25 and its 200-day simple moving average is $173.35. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. 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 released 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. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

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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