Elgethun Capital Management Buys 390 Shares of Alphabet Inc. (NASDAQ:GOOGL)

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Elgethun Capital Management boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,487 shares of the information services provider’s stock after buying an additional 390 shares during the period. Elgethun Capital Management’s holdings in Alphabet were worth $1,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors grew its holdings in shares of Alphabet by 16.2% in 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 acquiring an additional 10,037,685 shares during the period. Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% in 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 acquiring an additional 10,135,430 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,219 shares of company stock valued at $49,674,273. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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Several analysts recently commented on the company. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Royal Bank Of Canada lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. BMO Capital Markets lifted their price objective on Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. UBS Group lifted their price objective on Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Tigress Financial boosted their price target on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $211.53.

Get Our Latest Stock Analysis on GOOGL

Alphabet Trading Down 0.7%

GOOGL opened at $201.96 on Thursday. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.37 and a beta of 1.01. The stock’s 50 day moving average price is $182.95 and its 200-day moving average price is $173.22. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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:GOOGLGet Free Report) last released its 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 firm had revenue of $96,428,000 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

Alphabet Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)



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