Colrain Capital LLC Makes New $6.94 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Colrain Capital LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,675 shares of the information services provider's stock, valued at approximately $6,943,000. Alphabet accounts for about 6.8% of Colrain Capital LLC's holdings, making the stock its 4th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at approximately $39,000. PayPay Securities Corp raised its stake in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares in the last quarter. Finally, Denver PWM LLC boosted its holdings in shares of Alphabet by 25.4% during the third 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 during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOGL. Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Rosenblatt Securities reiterated a "neutral" rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. UBS Group set a $190.00 price objective on Alphabet in a research report on Thursday, March 27th. Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.51.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,797 shares of company stock worth $21,089,470. Insiders own 11.55% of the company's stock.

Alphabet Trading Up 2.8 %

Alphabet stock traded up $4.32 during mid-day trading on Friday, hitting $157.14. 33,590,459 shares of the stock were exchanged, compared to its average volume of 28,202,345. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm's fifty day simple moving average is $168.52 and its two-hundred day simple moving average is $176.22.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet's payout ratio is currently 9.94%.

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.