Dudley Capital Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Dudley Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,614 shares of the information services provider’s stock after buying an additional 239 shares during the quarter. Alphabet makes up about 2.7% of Dudley Capital Management LLC’s holdings, making the stock its 9th biggest holding. Dudley Capital Management LLC’s holdings in Alphabet were worth $5,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter worth about $28,000. Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter worth about $39,000. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet in the fourth quarter worth about $49,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GOOGL shares. Wedbush increased their target price on Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Guggenheim increased their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Citigroup boosted their target price on shares of Alphabet from $203.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Rosenblatt Securities increased their price target on shares of Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, KeyCorp lifted their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $211.39.

Alphabet Price Performance

NASDAQ:GOOGL opened at $189.13 on Monday. The business’s 50-day simple moving average is $178.32 and its two-hundred day simple moving average is $172.82. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.29 trillion, a PE ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $43,525,794 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.