Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,720 shares of the information services provider’s stock after buying an additional 5,192 shares during the period. Alphabet comprises approximately 0.8% of Northcape Capital Pty Ltd’s portfolio, making the stock its 9th largest position. Northcape Capital Pty Ltd’s holdings in Alphabet were worth $5,231,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in Alphabet in the 4th quarter worth approximately $100,000. Hardman Johnston Global Advisors LLC boosted its holdings in Alphabet by 3.3% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 481,217 shares of the information services provider’s stock valued at $67,221,000 after acquiring an additional 15,254 shares in the last quarter. Seascape Capital Management increased its position in Alphabet by 1.4% during the 4th quarter. Seascape Capital Management now owns 33,190 shares of the information services provider’s stock valued at $4,636,000 after purchasing an additional 464 shares during the period. ORG Partners LLC raised its holdings in Alphabet by 45.3% in the 4th quarter. ORG Partners LLC now owns 13,694 shares of the information services provider’s stock worth $1,913,000 after purchasing an additional 4,271 shares in the last quarter. Finally, Shaker Investments LLC OH lifted its position in shares of Alphabet by 10.9% in the 4th quarter. Shaker Investments LLC OH now owns 50,149 shares of the information services provider’s stock worth $7,005,000 after purchasing an additional 4,915 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. TD Cowen lifted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Truist Financial increased their price target on shares of Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Finally, Canaccord Genuity Group upped their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 133,365 shares of company stock worth $22,936,043 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.0 %

GOOGL opened at $162.96 on Monday. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s fifty day moving average is $175.78 and its 200 day moving average is $162.51. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.