Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Nutshell Asset Management Ltd

Nutshell Asset Management Ltd raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,450 shares of the information services provider’s stock after purchasing an additional 28,500 shares during the quarter. Alphabet accounts for 7.0% of Nutshell Asset Management Ltd’s portfolio, making the stock its 4th largest holding. Nutshell Asset Management Ltd’s holdings in Alphabet were worth $13,523,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. raised 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 valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Northern Trust Corp raised 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 valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Capital Research Global Investors lifted its position in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Alphabet by 15.9% during the 4th 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 last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the transaction, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 274,819 shares of company stock worth $49,796,547. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.5%

Alphabet stock opened at $202.94 on Friday. The company’s 50-day moving average price is $183.65 and its two-hundred day moving average price is $173.30. 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 stock has a market cap of $2.45 trillion, a P/E ratio of 21.61, a P/E/G ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company 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, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JMP Securities boosted their target price 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. Piper Sandler boosted their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Rosenblatt Securities upped their price objective on Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Citigroup lifted their target price on Alphabet from $203.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Loop Capital restated a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.53.

Alphabet 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.