BTG Pactual Global Asset Management Ltd Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

BTG Pactual Global Asset Management Ltd boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the information services provider’s stock after purchasing an additional 1,513 shares during the quarter. BTG Pactual Global Asset Management Ltd’s holdings in Alphabet were worth $1,811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Stifel Nicolaus reissued a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Truist Financial boosted their price objective on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.74.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, May 13th. The stock was sold at an average price of $168.08, for a total value of $252,120.00. Following the completion of the transaction, the director now directly owns 4,391 shares in the company, valued at $738,039.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,126 shares of company stock valued at $17,617,549. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $170.76 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.11 trillion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The stock’s 50 day simple moving average is $178.59 and its 200-day simple moving average is $161.14.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 12.27%.

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.