Prospector Partners LLC Acquires 369 Shares of Alphabet Inc. $GOOGL

Prospector Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,586 shares of the information services provider’s stock after purchasing an additional 369 shares during the quarter. Prospector Partners LLC’s holdings in Alphabet were worth $7,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in GOOGL. Eagle Capital Management LLC increased its stake in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in shares of Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock valued at $13,873,000 after acquiring an additional 13,564 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOGL. Truist Financial reissued a “buy” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. UBS Group lifted their price objective on Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Tigress Financial boosted their target price on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler lifted their price target on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.53.

Alphabet Trading Up 3.2%

Shares of GOOGL stock opened at $206.09 on Friday. The company’s fifty day simple moving average is $186.81 and its two-hundred day simple moving average is $173.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $208.54. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the 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 of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

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.