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

Chicago Partners Investment Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% during the first quarter, Holdings Channel reports. The firm owned 83,884 shares of the information services provider’s stock after purchasing an additional 5,107 shares during the period. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $24,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Strategic Wealth Advisors LLC boosted its holdings 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 acquiring an additional 27 shares during the period. Symmetry Partners LLC raised its stake in Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after acquiring an additional 30 shares during the last quarter. Private Wealth Management Group LLC lifted its position in Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after acquiring an additional 30 shares during the period. Members Trust Co grew its stake in shares of Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 31 shares during the last quarter. Finally, Altfest L J & Co. Inc. increased its holdings in shares of Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,415 shares of company stock worth $7,672,279 in the last 90 days. 11.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Evercore boosted their price target on shares of Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $445.00 price target (up from $425.00) on shares of Alphabet in a report on Monday, June 1st. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $414.54.

Trending Headlines about 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 Price Performance

GOOGL stock opened at $342.09 on Thursday. Alphabet Inc. has a 1 year low of $187.82 and a 1 year high of $408.61. 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’s 50 day moving average price is $366.14 and its 200 day moving average price is $338.86. The firm has a market cap of $4.14 trillion, a P/E ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $117.07 billion. On average, sell-side analysts expect that Alphabet Inc. will post 14.34 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

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.