AlpenGlobal Capital LLC Makes New $3.27 Million Investment in Alphabet Inc. $GOOG

AlpenGlobal Capital LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,388 shares of the information services provider’s stock, valued at approximately $3,267,000. Alphabet comprises 2.1% of AlpenGlobal Capital LLC’s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors also recently modified their holdings of the business. Kathmere Capital Management LLC grew its position in shares of Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its holdings in Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares in the last quarter. World Investment Advisors lifted its position in Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after purchasing an additional 15,280 shares in the last quarter. Finally, Violich Capital Management Inc. grew its holdings in Alphabet by 1.0% during the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after purchasing an additional 3,378 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $357.33 on Wednesday. The firm has a market cap of $4.33 trillion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.50 and a beta of 1.23. The firm has a fifty day moving average price of $368.65 and a 200 day moving average price of $335.92. Alphabet Inc. has a fifty-two week low of $181.50 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Pivotal Research reiterated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Scotiabank restated an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Oppenheimer raised their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $378.53.

Check Out Our Latest Research Report on GOOG

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is owned by insiders.

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About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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