Palogic Value Management L.P. Has $5.74 Million Stock Position in Alphabet Inc. $GOOG

Palogic Value Management L.P. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,758 shares of the information services provider’s stock after purchasing an additional 120 shares during the quarter. Alphabet comprises about 2.4% of Palogic Value Management L.P.’s portfolio, making the stock its 5th biggest holding. Palogic Value Management L.P.’s holdings in Alphabet were worth $5,743,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter valued at $26,000. Goodman Advisory Group LLC bought a new stake in Alphabet in the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet in the 1st quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $234.16 on Tuesday. 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 Inc. has a 52 week low of $142.66 and a 52 week high of $238.40. The stock has a market capitalization of $2.83 trillion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The stock has a fifty day moving average of $197.78 and a 200-day moving average of $177.12.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Alphabet’s revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. KeyCorp set a $265.00 price target on Alphabet in a research note on Wednesday, September 3rd. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $227.56.

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.