AlphaStar Capital Management LLC Has $10.90 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

AlphaStar Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,552 shares of the information services provider's stock after purchasing an additional 4,481 shares during the quarter. Alphabet accounts for about 1.1% of AlphaStar Capital Management LLC's portfolio, making the stock its 16th biggest position. AlphaStar Capital Management LLC's holdings in Alphabet were worth $10,895,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $39,000. Denver PWM LLC lifted its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the 3rd quarter worth approximately $66,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. KeyCorp increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. BMO Capital Markets restated an "outperform" rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $210.62.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $0.71 during mid-day trading on Thursday, reaching $184.56. 20,381,441 shares of the company's stock were exchanged, compared to its average volume of 27,250,016. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business's fifty day simple moving average is $192.67 and its two-hundred day simple moving average is $175.55. The firm has a market capitalization of $2.25 trillion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio is presently 9.94%.

Insider Activity

In related news, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company's stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,609 shares of company stock worth $21,809,990. 11.55% of the stock is currently owned by company insiders.

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.