Sustainable Insight Capital Management LLC Buys 4,300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sustainable Insight Capital Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,220 shares of the information services provider’s stock after acquiring an additional 4,300 shares during the quarter. Alphabet makes up approximately 1.2% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 27th largest position. Sustainable Insight Capital Management LLC’s holdings in Alphabet were worth $2,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter worth $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter worth $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL opened at $163.59 on Friday. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm has a 50-day simple moving average of $164.72 and a two-hundred day simple moving average of $165.32. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the company earned $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOGL shares. Morgan Stanley reduced their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Bank of America lifted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Loop Capital reissued a “hold” rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald started coverage on shares of Alphabet in a research note on Thursday, September 5th. They set a “neutral” rating and a $190.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.08.

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.