Alpha Cubed Investments LLC Has $70 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Cubed Investments LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,136 shares of the information services provider’s stock after acquiring an additional 47,862 shares during the period. Alphabet comprises 3.9% of Alpha Cubed Investments LLC’s portfolio, making the stock its 3rd largest position. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $70,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meritage Group LP raised its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC raised its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Armor Investment Advisors LLC raised its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares in the last quarter. IAG Wealth Partners LLC raised its stake in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in Alphabet in the fourth quarter worth about $55,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.1 %

Shares of GOOGL stock opened at $169.38 on Thursday. Alphabet Inc. has a 1 year low of $107.19 and a 1 year high of $174.71. The firm has a fifty day moving average price of $151.40 and a 200-day moving average price of $142.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOGL. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup increased their price target on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Morgan Stanley raised their target price on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Wedbush raised their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock valued at $37,091,240 in the last 90 days. Company insiders own 0.88% of the company’s stock.

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.