Blue Investment Partners LLC Has $937,000 Stake in Alphabet Inc. $GOOGL

Blue Investment Partners LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 86.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,317 shares of the information services provider’s stock after selling 33,071 shares during the quarter. Alphabet comprises 0.3% of Blue Investment Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Blue Investment Partners LLC’s holdings in Alphabet were worth $937,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG boosted its stake in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $333.00 price target on Alphabet in a report on Thursday, October 30th. Moffett Nathanson boosted their price objective on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Citigroup reaffirmed a “buy” rating and set a $343.00 target price (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,396 shares of company stock valued at $54,151,037 in the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 3.1%

NASDAQ GOOGL opened at $285.02 on Tuesday. 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 business has a fifty day simple moving average of $258.26 and a 200 day simple moving average of $210.16. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $293.95. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 28.11, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.