Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 120,782 shares of the information services provider’s stock after purchasing an additional 351 shares during the period. Alphabet makes up 1.2% of Thoroughbred Financial Services LLC’s portfolio, making the stock its 12th largest holding. Thoroughbred Financial Services LLC’s holdings in Alphabet were worth $18,677,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nia Impact Advisors LLC lifted its holdings in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after acquiring an additional 59 shares during the period. Hanlon Investment Management Inc. raised its stake in shares of Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after buying an additional 60 shares during the last quarter. Enzi Wealth raised its stake in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after buying an additional 62 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock worth $817,000 after buying an additional 67 shares during the last quarter. Finally, Aspire Capital Advisors LLC raised its stake in shares of Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock worth $1,086,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock valued at $49,674,273 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Wedbush lifted their price target on Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $211.53.

Alphabet Stock Performance

GOOGL stock opened at $201.00 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.43 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock’s 50 day simple moving average is $181.53 and its 200 day simple moving average is $172.81.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 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.