Naples Money Management LLC Buys Shares of 6,437 Alphabet Inc. (NASDAQ:GOOGL)

Naples Money Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 6,437 shares of the information services provider’s stock, valued at approximately $899,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cardinal Capital Management raised its stake in shares of Alphabet by 0.8% during the 3rd quarter. Cardinal Capital Management now owns 64,895 shares of the information services provider’s stock worth $8,492,000 after buying an additional 525 shares during the last quarter. Altus Wealth Management LLC raised its stake in shares of Alphabet by 40.3% during the 3rd quarter. Altus Wealth Management LLC now owns 3,339 shares of the information services provider’s stock worth $437,000 after buying an additional 959 shares during the last quarter. Tevis Investment Management raised its stake in shares of Alphabet by 1.2% during the 3rd quarter. Tevis Investment Management now owns 9,876 shares of the information services provider’s stock worth $1,292,000 after buying an additional 117 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of Alphabet by 7.2% during the 3rd quarter. First Affirmative Financial Network now owns 8,685 shares of the information services provider’s stock worth $1,136,000 after buying an additional 582 shares during the last quarter. Finally, Arcus Capital Partners LLC raised its stake in shares of Alphabet by 1.8% during the 3rd quarter. Arcus Capital Partners LLC now owns 8,671 shares of the information services provider’s stock worth $1,135,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $171.95 on Friday. The stock’s 50 day moving average price is $147.85 and its 200 day moving average price is $141.42. The firm has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a one year low of $103.54 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.05 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOGL. Sanford C. Bernstein lifted their price target on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday. Oppenheimer lifted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley lifted their price objective on Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price objective on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.82.

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.