Stone House Investment Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 108.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,018 shares of the information services provider's stock after buying an additional 1,567 shares during the quarter. Stone House Investment Management LLC's holdings in Alphabet were worth $467,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nia Impact Advisors LLC boosted its stake in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares during the period. Enzi Wealth boosted its stake in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC boosted its stake in Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC boosted its stake in Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after acquiring an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. boosted its stake in Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of research reports. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Tigress Financial boosted their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Wedbush boosted their price objective on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.
View Our Latest Research Report on Alphabet
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,219 shares of company stock worth $40,725,772 in the last three months. 11.64% of the stock is currently owned by company insiders.
Alphabet Price Performance
NASDAQ:GOOGL traded up $0.9820 during midday trading on Thursday, hitting $200.3020. 6,958,430 shares of the stock were exchanged, compared to its average volume of 36,245,418. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 1.36 and a beta of 1.01. The business has a 50-day moving average price of $185.70 and a two-hundred day moving average price of $173.38. 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 earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
Alphabet Profile
(
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.
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