Alphabet Inc. (NASDAQ:GOOGL) Holdings Increased by 17 Capital Partners LLC

17 Capital Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,869 shares of the information services provider’s stock after buying an additional 714 shares during the quarter. Alphabet makes up about 2.1% of 17 Capital Partners LLC’s holdings, making the stock its 3rd biggest holding. 17 Capital Partners LLC’s holdings in Alphabet were worth $2,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the 4th quarter valued at about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Armor Investment Advisors LLC grew its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC grew its position in Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Rosenblatt Securities increased their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Evercore ISI upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, Robert W. Baird upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.26.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,958 shares of company stock valued at $22,383,553. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.9 %

Shares of GOOGL opened at $179.63 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $180.85. The company has a 50 day simple moving average of $170.05 and a two-hundred day simple moving average of $152.56. The firm has a market cap of $2.22 trillion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the firm posted $1.17 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.