Sachetta LLC Purchases 724 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sachetta LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 33.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,885 shares of the information services provider’s stock after acquiring an additional 724 shares during the quarter. Sachetta LLC’s holdings in Alphabet were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its holdings in 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 acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter worth $30,000. Finally, Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock opened at $161.85 on Tuesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business has a 50-day simple moving average of $164.23 and a two-hundred day simple moving average of $165.98. The company has a market capitalization of $2.00 trillion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released 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 firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business earned $1.44 EPS. Research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler dropped their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $29,762,606 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.