Titleist Asset Management LLC Has $3.85 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Titleist Asset Management LLC increased its stake in Alphabet Inc. by 28.2%, now owning shares worth approximately $3.85 million as of the most recent SEC filing.
• Major investors like Vanguard Group Inc. and Invesco Ltd. also adjusted their holdings in Alphabet, contributing to institutional investors owning 40.03% of the company's stock.
• Alphabet recently reported quarterly earnings with $2.31 EPS, exceeding analyst estimates, and declared a quarterly dividend of $0.21 per share, with a dividend yield of 0.4%.

Titleist Asset Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,924 shares of the information services provider's stock after purchasing an additional 5,484 shares during the quarter. Titleist Asset Management LLC's holdings in Alphabet were worth $3,854,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Alphabet by 2.9% during the first 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 last quarter. Invesco Ltd. lifted its stake in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Deutsche Bank AG lifted its stake in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Alphabet in the first quarter valued at $4,317,606,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. 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 in the last three months. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOGL shares. Barclays increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, August 21st. Roth Capital increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Piper Sandler increased their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Citigroup increased their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Stock Performance

NASDAQ GOOGL opened at $212.91 on Friday. The firm has a 50-day moving average of $190.44 and a 200-day moving average of $174.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.57 trillion, a PE ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 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.

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