Machina Capital S.A.S. Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

by · The Markets Daily

Machina Capital S.A.S. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the first quarter, Holdings Channel reports. The institutional investor purchased 17,033 shares of the information services provider’s stock, valued at approximately $2,634,000.

Other hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. raised its holdings in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $3,119,000. Cypress Capital LLC raised its holdings in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares during the period. Finally, Optivise Advisory Services LLC raised its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after buying an additional 403 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,399 shares of company stock valued at $43,525,794. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 2.4%

GOOGL opened at $191.90 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.33 trillion, a P/E ratio of 20.44, a P/E/G ratio of 1.33 and a beta of 1.00. The stock has a fifty day moving average of $177.91 and a 200-day moving average of $173.12.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley raised their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Needham & Company LLC lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Barclays lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.39.

View Our Latest Research Report on GOOGL

Alphabet Profile

(Free Report)

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.

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