Hollencrest Capital Management Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hollencrest Capital Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,745 shares of the information services provider's stock after acquiring an additional 9,916 shares during the period. Hollencrest Capital Management's holdings in Alphabet were worth $11,568,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Swedbank AB grew its holdings in Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock worth $1,394,181,000 after acquiring an additional 51,226 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. Kennebec Savings Bank acquired a new position in Alphabet during the 3rd quarter worth $1,208,000. Peregrine Asset Advisers Inc. grew its holdings in Alphabet by 0.9% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 11,566 shares of the information services provider's stock worth $1,934,000 after acquiring an additional 99 shares in the last quarter. Finally, Jag Capital Management LLC boosted its holdings in shares of Alphabet by 1.6% in the 3rd quarter. Jag Capital Management LLC now owns 35,292 shares of the information services provider's stock valued at $5,901,000 after buying an additional 542 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush restated an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $209.13.

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Alphabet Stock Down 1.1 %

Alphabet stock opened at $165.98 on Wednesday. The firm has a market cap of $2.02 trillion, a PE ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.03. 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 firm's 50 day moving average price is $188.87 and its two-hundred day moving average price is $178.08. Alphabet Inc. has a twelve month low of $138.21 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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%. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,182 shares of company stock valued at $18,192,354. Company insiders own 12.99% of the company's stock.

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.

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