Partners Capital Investment Group LLP Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• Partners Capital Investment Group LLP increased its holdings in Alphabet Inc. by 86.7% in the first quarter, acquiring an additional 27,511 shares, bringing its total to 59,259 shares valued at approximately $9.16 million.
• Research analysts have raised Alphabet's stock price targets, with JPMorgan Chase increasing their target from $200 to $232, reflecting positive sentiment as four analysts rated it a Strong Buy and the average target price now stands at $211.53.
• Alphabet announced a quarterly dividend of $0.21 to be paid on September 15th, indicating a stable financial commitment with a dividend yield of 0.4%.

Partners Capital Investment Group LLP raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 86.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,259 shares of the information services provider's stock after acquiring an additional 27,511 shares during the quarter. Partners Capital Investment Group LLP's holdings in Alphabet were worth $9,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group raised their price objective on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Piper Sandler raised their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Loop Capital restated a "hold" rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Price Performance

NASDAQ GOOGL opened at $206.09 on Monday. The firm's fifty day simple moving average is $186.81 and its two-hundred day simple moving average is $173.12. The firm has a market capitalization of $2.49 trillion, a P/E ratio of 21.95, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $208.54.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,719 shares of company stock valued at $47,223,172. Company insiders own 11.55% of the company's stock.

About Alphabet

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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