Clear Creek Financial Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Clear Creek Financial Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,800 shares of the information services provider’s stock after purchasing an additional 1,485 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Alphabet were worth $3,242,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GOOGL. Picton Mahoney Asset Management raised its position in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $787,000. New Hampshire Trust raised its position in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares in the last quarter. Matisse Capital raised its position in shares of Alphabet by 13.7% during the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after buying an additional 2,026 shares in the last quarter. Finally, Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $359,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,883 shares of company stock valued at $26,705,320. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Tigress Financial upped their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Trading Up 1.0 %

Shares of GOOGL stock opened at $163.38 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a 50 day moving average price of $173.13 and a 200 day moving average price of $164.05. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.