68,321 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 68,321 shares of the information services provider’s stock, valued at approximately $10,565,000. Alphabet accounts for 0.7% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 8th biggest holding.

A number of other large investors also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $39,000. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $49,000. Navigoe LLC purchased a new position in shares of Alphabet in the fourth quarter worth $51,000. Finally, Elite Financial Inc. purchased a new position in shares of Alphabet in the first quarter worth $42,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock worth $43,523,710. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $192.58 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $176.29 and its two-hundred day simple moving average is $172.79. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.31 and a beta of 1.00.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid 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 yield of 0.44%. Alphabet’s payout ratio is 8.95%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research report on Friday, June 27th. JMP Securities upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 24th. Bank of America upped their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. KeyCorp upped their target price on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.32.

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.