17 Capital Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

17 Capital Partners LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 149.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,562 shares of the information services provider's stock after acquiring an additional 6,921 shares during the period. Alphabet comprises about 1.2% of 17 Capital Partners LLC's investment portfolio, making the stock its 15th biggest position. 17 Capital Partners LLC's holdings in Alphabet were worth $1,806,000 at the end of the most recent quarter.

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Several other large investors have also made changes to their positions in GOOG. Algert Global LLC lifted its position in shares of Alphabet by 8.0% in the first quarter. Algert Global LLC now owns 43,014 shares of the information services provider's stock worth $6,720,000 after buying an additional 3,172 shares in the last quarter. Cascade Financial Partners LLC lifted its position in shares of Alphabet by 1.0% in the first quarter. Cascade Financial Partners LLC now owns 16,095 shares of the information services provider's stock worth $2,515,000 after buying an additional 154 shares in the last quarter. Seven Mile Advisory lifted its position in shares of Alphabet by 2.0% in the first quarter. Seven Mile Advisory now owns 16,043 shares of the information services provider's stock worth $2,506,000 after buying an additional 311 shares in the last quarter. Ethos Financial Group LLC lifted its position in shares of Alphabet by 53.9% in the first quarter. Ethos Financial Group LLC now owns 11,238 shares of the information services provider's stock worth $1,756,000 after buying an additional 3,938 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its position in shares of Alphabet by 5.1% in the first quarter. Tyler Stone Wealth Management now owns 58,361 shares of the information services provider's stock worth $9,118,000 after buying an additional 2,848 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on GOOG. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $215.19.

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Get Our Latest Stock Analysis on GOOG

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm'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 transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock worth $49,796,547 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.5%

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GOOG opened at $204.91 on Friday. The stock has a market cap of $2.48 trillion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.36 and a beta of 1.02. The stock's 50 day moving average price is $185.21 and its 200-day moving average price is $174.72. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. 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 (DPR) is presently 8.95%.

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.

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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

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