Traveka Wealth LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Traveka Wealth LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,550 shares of the information services provider's stock after purchasing an additional 2,058 shares during the period. Alphabet accounts for approximately 2.0% of Traveka Wealth LLC's investment portfolio, making the stock its 16th biggest holding. Traveka Wealth LLC's holdings in Alphabet were worth $3,487,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GOOGL. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC increased its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC increased its position 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 worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its position in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets reissued an "outperform" rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Wednesday, June 25th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.61.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.4%

GOOGL stock opened at $180.19 on Friday. The company's 50-day simple moving average is $170.32 and its 200-day simple moving average is $173.31. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market cap of $2.19 trillion, a P/E ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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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