Alphabet Inc. (NASDAQ:GOOGL) is Blackhawk Capital Partners LLC.’s 9th Largest Position

Blackhawk Capital Partners LLC. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,244 shares of the information services provider’s stock after buying an additional 2,434 shares during the period. Alphabet makes up about 2.5% of Blackhawk Capital Partners LLC.’s investment portfolio, making the stock its 9th largest holding. Blackhawk Capital Partners LLC.’s holdings in Alphabet were worth $4,832,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOGL. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter worth approximately $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 15,968,487 shares during the period. Northern Trust Corp grew its stake 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 worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. JPMorgan Chase & Co. reduced their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research note on Wednesday, June 25th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.61.

Alphabet Price Performance

GOOGL stock opened at $181.56 on Tuesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s fifty day moving average price is $170.66 and its 200-day moving average price is $173.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.20 trillion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,443 shares of company stock valued at $36,298,548. 11.55% of the stock is currently owned by corporate insiders.

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.