Dynamic Technology Lab Private Ltd Takes Position in Alphabet Inc. $GOOGL

Dynamic Technology Lab Private Ltd purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,306 shares of the information services provider’s stock, valued at approximately $975,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Wedbush upped their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada increased their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Morgan Stanley increased their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.33.

Alphabet Stock Performance

NASDAQ GOOGL opened at $235.00 on Monday. 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 market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.58 and a beta of 1.01. The firm’s 50 day simple moving average is $195.79 and its 200 day simple moving average is $175.35. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $235.76.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock worth $49,208,380. Insiders own 11.55% of the company’s stock.

Alphabet Company 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.