Alphabet Inc. $GOOGL Shares Purchased by Linden Rose Investment LLC

Linden Rose Investment LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 28.7% in the first quarter, HoldingsChannel reports. The firm owned 51,630 shares of the information services provider’s stock after acquiring an additional 11,509 shares during the period. Alphabet makes up 19.5% of Linden Rose Investment LLC’s portfolio, making the stock its 2nd biggest position. Linden Rose Investment LLC’s holdings in Alphabet were worth $14,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Strategic Wealth Advisors LLC raised its holdings in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after buying an additional 27 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in Alphabet by 1.2% during the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider’s stock worth $680,000 after buying an additional 29 shares in the last quarter. Symmetry Partners LLC grew its holdings in Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after acquiring an additional 30 shares during the last quarter. Private Wealth Management Group LLC grew its holdings in Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after acquiring an additional 30 shares during the last quarter. Finally, SKY Mountain Capital Management Inc. grew its holdings in Alphabet by 1.1% during the 1st quarter. SKY Mountain Capital Management Inc. now owns 2,791 shares of the information services provider’s stock worth $803,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $445.00 price target on shares of Alphabet in a report on Thursday. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Thursday. Canaccord Genuity Group upped their price objective on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $419.86.

View Our Latest Stock Report on GOOGL

Insider Activity at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,415 shares of company stock worth $7,672,279. 11.61% of the stock is owned by company insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $319.74 on Monday. Alphabet Inc. has a one year low of $187.82 and a one year high of $408.61. The company has a 50 day moving average of $362.93 and a 200-day moving average of $338.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a market cap of $3.87 trillion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.06 and a beta of 1.24.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 17.59 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is currently 4.42%.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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