Militia Capital Partners LP Buys 31,500 Shares of Alphabet Inc. $GOOG

Militia Capital Partners LP boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 300.0% during the first quarter, Holdings Channel reports. The institutional investor owned 42,000 shares of the information services provider’s stock after buying an additional 31,500 shares during the period. Alphabet comprises approximately 5.2% of Militia Capital Partners LP’s investment portfolio, making the stock its 4th biggest position. Militia Capital Partners LP’s holdings in Alphabet were worth $6,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ARQ Wealth Advisors LLC grew its stake in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky grew its stake in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after buying an additional 1,376 shares during the last quarter. Fermata Advisors LLC grew its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after buying an additional 259 shares during the last quarter. jvl associates llc boosted its holdings in Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co boosted its holdings in Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock valued at $781,000 after purchasing an additional 2,292 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOG. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.56.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $240.78 on Friday. The firm has a 50 day moving average of $201.45 and a 200-day moving average of $178.39. The stock has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.61 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $242.57.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio 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.