Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by May Hill Capital LLC

May Hill Capital LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,256 shares of the information services provider’s stock after buying an additional 430 shares during the quarter. May Hill Capital LLC’s holdings in Alphabet were worth $1,122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Burt Wealth Advisors increased its stake in shares of Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after acquiring an additional 54 shares during the last quarter. Perritt Capital Management Inc increased its stake in shares of Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares during the last quarter. Nia Impact Advisors LLC increased its stake in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after acquiring an additional 59 shares during the last quarter. Hanlon Investment Management Inc. increased its stake in shares of Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after acquiring an additional 60 shares during the last quarter. Finally, Enzi Wealth increased its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOGL. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Tigress Financial upped their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Piper Sandler upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $199.61.

Alphabet Stock Up 0.8%

NASDAQ GOOGL opened at $181.56 on Tuesday. 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 firm has a 50-day simple moving average of $170.66 and a 200 day simple moving average of $173.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a market cap of $2.20 trillion, a PE ratio of 20.24, a PEG 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 earnings per share for the quarter, beating 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 business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid 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 a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,443 shares of company stock worth $36,298,548. Company insiders own 11.55% of the company’s stock.

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.