TradeLink Capital LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• TradeLink Capital LLC acquired 7,400 shares of Alphabet Inc., worth approximately $1.144 million, making it the fund's 3rd largest position with 7.1% of its holdings.
• Alphabet reported a quarterly EPS of $2.31, exceeding the consensus estimate of $2.15, while the company also announced a quarterly dividend of $0.21 per share.
• Recent analyst updates have adjusted target prices for Alphabet, with Oppenheimer raising their target from $185 to $200 and Roth Capital increasing theirs from $205 to $210, reflecting a positive outlook.

TradeLink Capital LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,400 shares of the information services provider's stock, valued at approximately $1,144,000. Alphabet comprises about 7.1% of TradeLink Capital LLC's holdings, making the stock its 3rd largest position.

Other institutional investors have also bought and sold shares of the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter valued at about $39,000. Finally, Elite Financial Inc. purchased a new stake in Alphabet during the first quarter worth about $42,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $196.52 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company's 50 day moving average price is $180.26 and its 200-day moving average price is $173.13. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts forecast 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 issued 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 is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOGL shares. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Roth Capital upped their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research report on Friday, June 27th. DA Davidson boosted their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Loop Capital reiterated a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was 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 approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,219 shares of company stock worth $49,474,273 in the last 90 days. Company insiders own 11.64% of the company's stock.

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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