198 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Kings Path Partners LLC

Kings Path Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, HoldingsChannel.com reports. The fund purchased 198 shares of the information services provider’s stock, valued at approximately $36,000.

A number of other institutional investors also recently modified their holdings of GOOGL. Picton Mahoney Asset Management grew its holdings in Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $787,000. New Hampshire Trust grew its stake in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Matisse Capital raised its stake in Alphabet by 13.7% during the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares during the last quarter. Finally, Berkshire Money Management Inc. acquired a new position in Alphabet during the 1st quarter valued at $359,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GOOGL shares. BMO Capital Markets restated an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Tuesday, August 6th. Roth Mkm reiterated a “buy” rating and set a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.81.

Alphabet Stock Down 1.5 %

NASDAQ:GOOGL opened at $148.71 on Tuesday. The company has a market cap of $1.83 trillion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s fifty day moving average price is $170.17 and its two-hundred day moving average price is $164.48. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 178,032 shares of company stock valued at $29,854,224 over the last ninety days. Insiders own 11.55% 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.