SLT Holdings LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

SLT Holdings LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,625 shares of the information services provider’s stock after buying an additional 350 shares during the period. SLT Holdings LLC’s holdings in Alphabet were worth $566,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Concentrum Wealth Management increased its holdings in Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after purchasing an additional 57 shares during the period. JDM Financial Group LLC boosted its position in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares in the last quarter. Kidder Stephen W boosted its position in Alphabet by 1.6% during the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock valued at $687,000 after acquiring an additional 58 shares in the last quarter. Objectivity Squared LLC boosted its position in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after acquiring an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC boosted its position in Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Oppenheimer reissued an “outperform” rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Price Performance

Shares of GOOG opened at $193.42 on Tuesday. The firm has a market cap of $2.35 trillion, a PE ratio of 20.60, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $177.37 and a two-hundred day simple moving average of $174.38. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 in the last three months. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.