Osterweis Capital Management Inc. Purchases 95 Shares of Alphabet Inc. $GOOGL

Osterweis Capital Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the first quarter, Holdings Channel.com reports. The fund owned 4,912 shares of the information services provider’s stock after acquiring an additional 95 shares during the period. Osterweis Capital Management Inc.’s holdings in Alphabet were worth $760,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOGL. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares during the period. Forum Financial Management LP boosted its holdings in shares of Alphabet by 6.4% during the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock worth $14,985,000 after purchasing an additional 4,756 shares during the period. Finally, Triumph Capital Management increased its position in Alphabet by 1.6% during the 4th quarter. Triumph Capital Management now owns 5,470 shares of the information services provider’s stock valued at $1,036,000 after purchasing an additional 88 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.5%

Shares of Alphabet stock opened at $240.37 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average of $200.66 and a 200 day moving average of $177.03. The firm has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.61 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25.

Alphabet (NASDAQ:GOOGL) last issued 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 analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Citigroup restated an “outperform” rating on shares of Alphabet in a report on Wednesday, September 3rd. Truist Financial restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday. Finally, Tigress Financial upped their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.44.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 11.64% of the company’s stock.

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.