Alphabet Inc. $GOOGL Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,884 shares of the information services provider’s stock after buying an additional 5,107 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $24,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Advisors LLC grew its position in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the period. Symmetry Partners LLC lifted its holdings in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Management Group LLC grew its holdings in shares of Alphabet by 1.2% during the first quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after buying an additional 30 shares in the last quarter. Members Trust Co grew its holdings in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after buying an additional 31 shares in the last quarter. Finally, Altfest L J & Co. Inc. boosted its position in Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Alphabet Stock Performance

NASDAQ:GOOGL opened at $342.09 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $4.14 trillion, a P/E ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24. The company has a 50 day moving average price of $366.14 and a 200 day moving average price of $338.86. Alphabet Inc. has a fifty-two week low of $187.82 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $6.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Equities research analysts forecast that Alphabet Inc. will post 14.34 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.3%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Loop Capital lifted their price objective on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. China Renaissance upped their target price on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Thursday, April 30th. UBS Group reiterated a “neutral” rating and set a $400.00 price target (down from $410.00) on shares of Alphabet in a report on Monday, July 13th. Finally, Dbs Bank lifted their target price on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.54.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is owned by company insiders.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.