TradeLink Capital LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• TradeLink Capital LLC acquired a new position in Alphabet Inc. worth approximately $938,000, representing about 5.8% of their investment portfolio.
• Alphabet's recent quarterly earnings surpassed expectations, reporting $2.31 earnings per share compared to a consensus estimate of $2.12.
• A quarterly dividend of $0.21 has been announced, with an ex-dividend date set for September 8th, giving a dividend yield of 0.43%.

TradeLink Capital LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,000 shares of the information services provider's stock, valued at approximately $938,000. Alphabet makes up about 5.8% of TradeLink Capital LLC's investment portfolio, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Concentrum Wealth Management lifted its stake in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after buying an additional 57 shares in the last quarter. JDM Financial Group LLC lifted its stake in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after buying an additional 57 shares in the last quarter. Kidder Stephen W lifted its stake in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after buying an additional 58 shares in the last quarter. Objectivity Squared LLC lifted its stake in shares of Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after buying an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC lifted its stake in shares of Alphabet by 0.4% in the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after buying an additional 63 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOG shares. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The shares were 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 of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was 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 in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock valued at $43,525,794. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG stock traded down $2.87 on Friday, hitting $189.99. The company's stock had a trading volume of 5,567,874 shares, compared to its average volume of 24,215,551. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.31 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 Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a 50 day moving average of $178.96 and a two-hundred day moving average of $174.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is presently 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.