Sutton Place Investors LLC Acquires 847 Shares of Alphabet Inc. $GOOGL

Sutton Place Investors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,247 shares of the information services provider’s stock after purchasing an additional 847 shares during the quarter. Sutton Place Investors LLC’s holdings in Alphabet were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Nuveen LLC bought a new stake in Alphabet during the 1st quarter valued at approximately $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Amundi raised its holdings in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after acquiring an additional 2,565,400 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Moffett Nathanson upped their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Finally, Citizens Jmp upped their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $245.88.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock worth $59,062,683 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Down 2.1%

Shares of GOOGL opened at $236.57 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. 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 stock has a 50 day simple moving average of $226.31 and a 200-day simple moving average of $188.84. The stock has a market cap of $2.86 trillion, a PE ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.