Blackhawk Capital Partners LLC. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.4% during the first quarter, HoldingsChannel reports. The fund owned 31,244 shares of the information services provider’s stock after acquiring an additional 2,434 shares during the quarter. Alphabet accounts for approximately 2.5% of Blackhawk Capital Partners LLC.’s investment portfolio, making the stock its 9th largest holding. Blackhawk Capital Partners LLC.’s holdings in Alphabet were worth $4,832,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of GOOGL. von Borstel & Associates Inc. bought a new position in Alphabet during the first quarter valued at $28,000. Elite Financial Inc. bought a new position in shares of Alphabet in the first quarter worth about $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter worth about $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the first quarter worth about $49,000. Finally, Navigoe LLC bought a new position in shares of Alphabet in the fourth quarter worth about $51,000. Institutional investors own 40.03% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,443 shares of company stock valued at $36,298,548. 11.55% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of Alphabet stock opened at $181.56 on Tuesday. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 20.24, a PEG ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $170.66 and a 200 day moving average price of $173.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.
Analysts Set New Price Targets
A number of research analysts have recently commented on GOOGL shares. Bank of America upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Stifel Nicolaus cut their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Citizens Jmp upgraded shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Finally, Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Ten 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.61.
Check Out 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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.