PTM Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,823 shares of the information services provider's stock, valued at approximately $264,000.
Several other institutional investors have also modified their holdings 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 raised its position in Alphabet by 3.9% in the 4th 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 last quarter. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its position in Alphabet by 3.6% during the 4th 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 last quarter. Finally, Hudson Value Partners LLC raised its position in Alphabet by 22.7% during the 4th 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. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Trading Up 3.1%
Shares of GOOGL stock opened at $195.04 on Tuesday. The firm has a market cap of $2.36 trillion, a P/E ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's 50-day simple moving average is $178.85 and its 200-day simple moving average is $172.81.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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 net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% 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, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 in the last 90 days. 11.55% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOOGL. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Piper Sandler upped their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Finally, Guggenheim upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.
Get Our Latest Analysis on GOOGL
About Alphabet
(
Free Report)
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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