Quarry LP Has $995,000 Stock Holdings in Alphabet Inc. $GOOGL

Quarry LP raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2,747.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,435 shares of the information services provider’s stock after buying an additional 6,209 shares during the period. Quarry LP’s holdings in Alphabet were worth $995,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. raised its stake in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $39,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, August 21st. Wedbush upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Royal Bank Of Canada upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $47,225,230 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.6%

Shares of Alphabet stock opened at $212.91 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average of $190.44 and a 200 day moving average of $174.05. The firm has a market cap of $2.57 trillion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $214.65.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. 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 (DPR) is presently 8.95%.

Alphabet Company 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.