Checchi Capital Advisers LLC Boosts Stake in Alphabet Inc. $GOOGL

Checchi Capital Advisers LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 45,303 shares of the information services provider’s stock after purchasing an additional 3,174 shares during the period. Checchi Capital Advisers LLC’s holdings in Alphabet were worth $13,027,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. EMC Capital Management bought a new position in Alphabet during the 4th quarter worth $33,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $32,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Finally, Bard Associates Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $52,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on 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 owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 in the last quarter. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.6%

Shares of NASDAQ:GOOGL opened at $319.74 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 2.72. The stock’s 50-day moving average is $362.93 and its 200-day moving average is $338.74. The company has a market cap of $3.87 trillion, a P/E ratio of 16.06, a P/E/G ratio of 1.31 and a beta of 1.24. Alphabet Inc. has a 52-week low of $187.82 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Equities research analysts predict that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 4.42%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Analyst Ratings Changes

Several equities research analysts recently commented on GOOGL shares. President Capital boosted their target price on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. UBS Group dropped their price objective on Alphabet from $400.00 to $379.00 and set a “neutral” rating on the stock in a research note on Thursday. Daiwa Securities Group upped their price objective on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.86.

View Our Latest Research Report on GOOGL

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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