Sculptor Capital LP Raises Position in Alphabet Inc. $GOOGL

Key Points

• Sculptor Capital LP increased its position in Alphabet Inc. by 40.5% in the first quarter, now holding 377,300 shares valued at approximately $58.3 million.
• Several institutional investors have also raised their stakes in Alphabet, indicating continued interest in the company's stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with an annualized payout of $0.84, representing a dividend yield of 0.4%.

Sculptor Capital LP increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 377,300 shares of the information services provider's stock after buying an additional 108,700 shares during the period. Alphabet accounts for approximately 1.1% of Sculptor Capital LP's portfolio, making the stock its 26th largest holding. Sculptor Capital LP's holdings in Alphabet were worth $58,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Connecticut Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter worth $10,405,000. Innovator Capital Management LLC raised its position in shares of Alphabet by 25.9% in the first quarter. Innovator Capital Management LLC now owns 1,768 shares of the information services provider's stock worth $273,000 after buying an additional 364 shares in the last quarter. Benchmark Investment Advisors LLC increased its stake in Alphabet by 19.6% in the first quarter. Benchmark Investment Advisors LLC now owns 29,627 shares of the information services provider's stock valued at $4,582,000 after acquiring an additional 4,862 shares during the last quarter. Titleist Asset Management LLC increased its stake in Alphabet by 28.2% in the first quarter. Titleist Asset Management LLC now owns 24,924 shares of the information services provider's stock valued at $3,854,000 after acquiring an additional 5,484 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Alphabet by 2.9% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 28,746 shares of the information services provider's stock valued at $4,445,000 after acquiring an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on GOOGL shares. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Morgan Stanley increased their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Piper Sandler increased their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Guggenheim increased their target price on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $47,225,230 over the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.6%

Shares of NASDAQ:GOOGL opened at $212.91 on Friday. The stock's 50-day moving average price is $190.44 and its 200-day moving average price is $174.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $214.65. The stock has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

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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