Hill Investment Group Partners LLC Acquires 196 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hill Investment Group Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,941 shares of the information services provider’s stock after buying an additional 196 shares during the quarter. Hill Investment Group Partners LLC’s holdings in Alphabet were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Norges Bank bought a new position in Alphabet in the 4th quarter worth $15,441,917,000. Capital Research Global Investors raised its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Alphabet by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOGL shares. Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Bank of America lifted their target price on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Guggenheim upped their price target on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Piper Sandler lowered their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Eight equities research 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 company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $29,762,606 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.3 %

NASDAQ GOOGL opened at $159.81 on Thursday. The company has a market capitalization of $1.97 trillion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The stock’s 50-day moving average price is $165.62 and its 200-day moving average price is $165.13.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

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.