Van Hulzen Asset Management LLC Has $25.28 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Van Hulzen Asset Management LLC has reduced its stake in Alphabet Inc. by 29.2%, now holding 163,493 shares worth approximately $25.28 million, making it the firm's sixth largest position.
• Several institutional investors, including Mystic Asset Management Inc. and Cypress Capital LLC, have also adjusted their positions in Alphabet, with 40.03% of the stock owned by institutional shareholders.
• Equities analysts have raised their price targets for Alphabet, with UBS Group and other firms increasing their targets, leading to an average target price of $211.53 and a consensus rating of "Moderate Buy."

Van Hulzen Asset Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 29.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,493 shares of the information services provider's stock after selling 67,297 shares during the quarter. Alphabet comprises approximately 2.3% of Van Hulzen Asset Management LLC's investment portfolio, making the stock its 6th biggest position. Van Hulzen Asset Management LLC's holdings in Alphabet were worth $25,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co boosted its position in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new position in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC boosted its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the period. Finally, Falcon Wealth Planning boosted its position in Alphabet by 15.7% during the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after purchasing an additional 1,340 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler lifted their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Susquehanna lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Bank of America lifted their target price on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, UBS Group lifted their target price on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a 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 issued a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $211.53.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Up 1.2%

GOOGL opened at $208.49 on Tuesday. The company has a market capitalization of $2.52 trillion, a P/E ratio of 22.20, a P/E/G ratio of 1.39 and a beta of 1.01. The stock has a fifty day moving average of $187.44 and a 200-day moving average of $173.28. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $210.52. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. 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 payout ratio is 8.95%.

About Alphabet

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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