Generation Capital Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,887 shares of the information services provider's stock, valued at approximately $4,930,000. Alphabet accounts for about 4.2% of Generation Capital Management LLC's investment portfolio, making the stock its 5th biggest holding.
Other institutional investors have also recently added to or reduced their stakes in the company. Holcombe Financial Inc. bought a new position in shares of Alphabet during the fourth quarter worth about $282,000. GeoWealth Management LLC grew its position in Alphabet by 2.8% in the 4th quarter. GeoWealth Management LLC now owns 33,016 shares of the information services provider's stock worth $6,288,000 after purchasing an additional 912 shares during the last quarter. Brant Point Investment Management LLC increased its stake in shares of Alphabet by 20.1% in the fourth quarter. Brant Point Investment Management LLC now owns 17,940 shares of the information services provider's stock valued at $3,416,000 after purchasing an additional 3,000 shares during the period. Broadleaf Partners LLC raised its holdings in shares of Alphabet by 81.6% during the fourth quarter. Broadleaf Partners LLC now owns 87,371 shares of the information services provider's stock valued at $16,639,000 after buying an additional 39,261 shares during the last quarter. Finally, Capital Group Private Client Services Inc. boosted its position in shares of Alphabet by 2.2% during the fourth quarter. Capital Group Private Client Services Inc. now owns 2,040,236 shares of the information services provider's stock worth $388,543,000 after buying an additional 43,468 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on GOOG shares. Westpark Capital initiated coverage on shares of Alphabet in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.88.
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Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock valued at $25,361,647 in the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Down 1.4 %
GOOG traded down $2.14 during trading on Friday, reaching $153.36. The company had a trading volume of 19,461,666 shares, compared to its average volume of 19,427,163. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business's fifty day moving average price is $167.16 and its 200 day moving average price is $177.55. The company has a market cap of $1.87 trillion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is 9.94%.
Alphabet Company Profile
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Free Report)
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.
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