Sutton Place Investors LLC Has $925,000 Stock Holdings in Alphabet Inc. $GOOGL

Sutton Place Investors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,247 shares of the information services provider’s stock after purchasing an additional 847 shares during the period. Sutton Place Investors LLC’s holdings in Alphabet were worth $925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthcare Capital Partners LLC acquired a new position in Alphabet during the second quarter valued at $238,000. Wealthcare Advisory Partners LLC raised its position in Alphabet by 7.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 61,121 shares of the information services provider’s stock valued at $10,771,000 after buying an additional 4,246 shares during the period. Tandem Investment Partners LLC acquired a new position in Alphabet during the second quarter valued at $208,000. Hill Island Financial LLC raised its position in Alphabet by 152.6% during the second quarter. Hill Island Financial LLC now owns 5,292 shares of the information services provider’s stock valued at $933,000 after buying an additional 3,197 shares during the period. Finally, Berger Financial Group Inc raised its position in Alphabet by 2.0% during the second quarter. Berger Financial Group Inc now owns 65,863 shares of the information services provider’s stock valued at $11,607,000 after buying an additional 1,321 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Westpark Capital upped their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.88.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock worth $59,062,683 in the last 90 days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $236.57 on Monday. The firm has a market cap of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. The stock’s 50-day moving average is $226.31 and its two-hundred day moving average is $188.84. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is 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.