Sender Co & Partners Inc. Purchases New Stake in Alphabet Inc. $GOOGL

Key Points

• Sender Co & Partners Inc. has acquired a stake in Alphabet Inc., purchasing approximately $6.72 million worth of shares, making it the fund's 4th largest position.
• Several institutional investors have also increased their holdings in Alphabet, with notable increases such as a 242.9% lift by Guardian Wealth Management Inc.
• Analysts have raised their price targets for Alphabet stock, with estimates now ranging from $220 to $260, reflecting a consensus rating of "Moderate Buy."

Sender Co & Partners Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 43,441 shares of the information services provider's stock, valued at approximately $6,718,000. Alphabet comprises about 3.5% of Sender Co & Partners Inc.'s portfolio, making the stock its 4th largest position.

Several other large investors have also recently modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the first quarter valued at $4,317,606,000. GAMMA Investing LLC raised its stake in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphabet in the 4th quarter worth approximately $1,375,509,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Westpark Capital boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley boosted their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.44.

Alphabet Stock Up 1.0%

GOOGL stock traded up $2.29 during midday trading on Tuesday, reaching $236.33. 6,857,260 shares of the company's stock traded hands, compared to its average volume of 36,606,133. The company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 1.58 and a beta of 1.01. The firm's fifty day moving average price is $196.95 and its 200-day moving average price is $175.73. 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 52 week low of $140.53 and a 52 week high of $238.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.55% of the company's stock.

About Alphabet

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.