Alphabet Inc. $GOOGL Shares Bought by Russell Investments Group Ltd.

Key Points

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Russell Investments Group Ltd. grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,243,255 shares of the information services provider's stock after acquiring an additional 434,440 shares during the quarter. Alphabet comprises about 1.3% of Russell Investments Group Ltd.'s portfolio, making the stock its 7th biggest position. Russell Investments Group Ltd. owned approximately 0.05% of Alphabet worth $965,131,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOGL shares. Tigress Financial increased their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Roth Capital increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JMP Securities increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Finally, Westpark Capital increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" 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 given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated 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 directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,719 shares of company stock worth $47,223,172. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock traded up $4.0660 on Friday, hitting $203.8160. The company had a trading volume of 9,098,098 shares, compared to its average volume of 36,130,219. The firm has a market cap of $2.46 trillion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a 50-day moving average price of $186.18 and a 200-day moving average price of $173.37. 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 twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion during 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued 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 payout ratio is 8.95%.

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.