Schulhoff & Co. Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,684 shares of the information services provider's stock after purchasing an additional 2,753 shares during the period. Alphabet comprises approximately 1.0% of Schulhoff & Co. Inc.'s portfolio, making the stock its 27th biggest holding. Schulhoff & Co. Inc.'s holdings in Alphabet were worth $2,271,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Richards Merrill & Peterson Inc. lifted its position in Alphabet by 5.8% during the first quarter. Richards Merrill & Peterson Inc. now owns 17,548 shares of the information services provider's stock valued at $2,714,000 after buying an additional 965 shares during the period. Bryce Point Capital LLC purchased a new position in Alphabet during the first quarter valued at $869,000. Metis Global Partners LLC lifted its position in Alphabet by 11.4% during the first quarter. Metis Global Partners LLC now owns 325,883 shares of the information services provider's stock valued at $50,395,000 after buying an additional 33,275 shares during the period. Nemes Rush Group LLC lifted its position in Alphabet by 2.0% during the first quarter. Nemes Rush Group LLC now owns 71,186 shares of the information services provider's stock valued at $11,008,000 after buying an additional 1,380 shares during the period. Finally, First National Advisers LLC lifted its position in Alphabet by 6.2% during the first quarter. First National Advisers LLC now owns 30,337 shares of the information services provider's stock valued at $4,692,000 after buying an additional 1,779 shares during the period. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on 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 transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,399 shares of company stock worth $43,525,794. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Up 3.1%
Shares of GOOGL opened at $195.04 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01. The stock has a 50 day moving average price of $178.85 and a 200 day moving average price of $172.81.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results 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 company 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%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid 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 is 8.95%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on GOOGL shares. Guggenheim lifted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Truist Financial restated a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Royal Bank Of Canada boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research note on Friday, June 27th. Finally, Piper Sandler boosted their price objective on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $211.39.
Read 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.
See Also
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