Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by DLK Investment Management LLC

DLK Investment Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,394 shares of the information services provider’s stock after purchasing an additional 140 shares during the quarter. DLK Investment Management LLC’s holdings in Alphabet were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the fourth quarter valued at $38,000. Meritage Group LP raised its stake in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC lifted its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC lifted its holdings in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Barclays upped their price objective on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Truist Financial upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $193.69.

Alphabet Price Performance

Shares of GOOGL opened at $183.88 on Thursday. The company has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $184.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50-day moving average is $171.13 and its 200-day moving average is $153.36.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,284 shares of company stock worth $24,534,393. Insiders own 11.55% of the company’s stock.

About Alphabet

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.