Sachetta LLC Grows Stake in Alphabet Inc. $GOOGL

Sachetta LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,708 shares of the information services provider’s stock after acquiring an additional 226 shares during the quarter. Sachetta LLC’s holdings in Alphabet were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Truist Financial boosted their target price on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Bank of America boosted their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $288.00 price target on shares of Alphabet in a research report on Tuesday. Finally, Wells Fargo & Company set a $236.00 price target on shares of Alphabet and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.26.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 244,438 shares of company stock worth $53,216,085 over the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Alphabet stock opened at $251.03 on Thursday. The firm’s 50 day simple moving average is $229.41 and its 200 day simple moving average is $190.28. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.04 trillion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

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.