Intrinsic Value Partners LLC Grows Stake in Alphabet Inc. $GOOGL

Intrinsic Value Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,924 shares of the information services provider’s stock after buying an additional 245 shares during the period. Alphabet accounts for about 4.1% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $4,569,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Mystic Asset Management Inc. raised its holdings in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Cypress Capital LLC increased its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Down 2.1%

GOOGL stock opened at $236.57 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average of $226.31 and a two-hundred day moving average of $188.66. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

Several research analysts have issued reports on GOOGL shares. Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Bank of America upped their price target on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Truist Financial upped their price target on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 22nd. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Westpark Capital lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $245.88.

Alphabet Company 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.