Russell Investments Group Ltd. Acquires 133,031 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Russell Investments Group Ltd. increased its stake in Alphabet Inc. by 2.3%, adding 133,031 shares to total 5,890,477 shares, valued at approximately $920 million.
• Alphabet recently posted earnings of $2.31 EPS, exceeding expectations, and reported a revenue of $96.43 billion for the quarter, up 13.8% year-over-year.
• The company announced a quarterly dividend of $0.21 per share, reflecting a 0.4% yield and a payout ratio of 8.95%.

Russell Investments Group Ltd. raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,890,477 shares of the information services provider's stock after buying an additional 133,031 shares during the quarter. Alphabet accounts for about 1.3% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 8th largest position. Russell Investments Group Ltd.'s holdings in Alphabet were worth $920,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. LSV Asset Management acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Down 0.2%

Shares of Alphabet stock opened at $201.63 on Tuesday. 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 Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The business has a fifty day simple moving average of $182.53 and a 200 day simple moving average of $174.34. The stock has a market cap of $2.44 trillion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm 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 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOG shares. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, 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. Over the last ninety days, insiders sold 274,219 shares of company stock valued at $49,674,273. Company insiders own 12.99% of the company's stock.

Alphabet 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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