Steele Capital Management Inc. Invests $416,000 in Alphabet Inc. (NASDAQ:GOOGL)

Steele Capital Management Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,976 shares of the information services provider’s stock, valued at approximately $416,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. FMR LLC boosted its holdings in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at $634,465,000. Ontario Teachers Pension Plan Board bought a new position in Alphabet during the third quarter worth $601,545,000. Finally, Lone Pine Capital LLC acquired a new stake in Alphabet in the third quarter worth $407,367,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $171.25 on Wednesday. The business’s 50 day simple moving average is $151.40 and its 200 day simple moving average is $142.83. Alphabet Inc. has a 12 month low of $105.16 and a 12 month high of $174.71. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares in the company, valued at $336,980,728.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the sale, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 252,629 shares of company stock valued at $37,091,240 over the last quarter. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Redburn Atlantic upped their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. BMO Capital Markets increased their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Canaccord Genuity Group boosted their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Roth Mkm upped their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Raymond James lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet 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.