Quantbot Technologies LP Buys 48,236 Shares of Alphabet Inc. $GOOGL

Key Points

• Quantbot Technologies LP increased its stake in Alphabet Inc. by 756.4%, acquiring an additional 48,236 shares and bringing its total to 54,613 shares, valued at approximately $8.4 million.
• Alphabet reported quarterly earnings with an EPS of $2.31, exceeding analysts' expectations of $2.15, alongside revenues of $96.4 billion for the same period.
• The company declared a quarterly dividend of $0.21 per share, which will be paid on September 15th, representing an annualized dividend yield of 0.4%.

Quantbot Technologies LP increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 756.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,613 shares of the information services provider's stock after acquiring an additional 48,236 shares during the period. Quantbot Technologies LP's holdings in Alphabet were worth $8,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $39,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL stock opened at $206.09 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $208.54. The stock's fifty day moving average price is $186.81 and its 200-day moving average price is $173.37. The company has a market cap of $2.49 trillion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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 analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Citigroup upped their price target on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Finally, Piper Sandler increased their target price on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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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