Fulcrum Capital LLC Takes $17.71 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Fulcrum Capital LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 106,810 shares of the information services provider’s stock, valued at approximately $17,714,000. Alphabet comprises approximately 3.9% of Fulcrum Capital LLC’s holdings, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Security Advisor Inc. grew its position in Alphabet by 2.1% in the first quarter. Financial Security Advisor Inc. now owns 31,416 shares of the information services provider’s stock worth $4,742,000 after buying an additional 635 shares during the last quarter. Quattro Financial Advisors LLC grew its position in Alphabet by 48,200.7% during the 1st quarter. Quattro Financial Advisors LLC now owns 67,621 shares of the information services provider’s stock worth $10,206,000 after purchasing an additional 67,481 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Alphabet by 0.8% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 754,624 shares of the information services provider’s stock valued at $113,895,000 after buying an additional 6,290 shares during the period. Shira Ridge Wealth Management boosted its stake in shares of Alphabet by 2.4% during the 1st quarter. Shira Ridge Wealth Management now owns 5,481 shares of the information services provider’s stock valued at $827,000 after buying an additional 128 shares during the period. Finally, Nvest Financial LLC boosted its stake in shares of Alphabet by 1.4% during the 1st quarter. Nvest Financial LLC now owns 26,751 shares of the information services provider’s stock valued at $4,038,000 after buying an additional 370 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,244 shares of company stock valued at $37,776,954. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOGL shares. Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.29 on Monday. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03. The company’s 50-day simple moving average is $162.43 and its 200 day simple moving average is $169.10. Alphabet Inc. has a twelve month low of $126.93 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

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.