Alphabet Inc. (NASDAQ:GOOGL) is Pallas Capital Advisors LLC’s 10th Largest Position

Pallas Capital Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the first quarter, Holdings Channel reports. The fund owned 176,451 shares of the information services provider’s stock after purchasing an additional 2,168 shares during the quarter. Alphabet comprises 1.1% of Pallas Capital Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Pallas Capital Advisors LLC’s holdings in Alphabet were worth $27,286,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOGL. Wealth Group Ltd. increased its position in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC increased its position in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after buying an additional 1,119 shares in the last quarter. Eagle Capital Management LLC increased its position in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC increased its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Alphabet in the fourth quarter worth about $154,716,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Wednesday, May 21st. Susquehanna reduced their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Westpark Capital restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Piper Sandler upped their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Wedbush set a $190.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $199.75.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 in the last ninety days. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $176.09 on Tuesday. The stock has a 50 day moving average of $160.52 and a 200 day moving average of $174.46. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a market cap of $2.14 trillion, a PE ratio of 21.87, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the company earned $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.