Alphabet Inc. (NASDAQ:GOOGL) Holdings Boosted by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,243 shares of the information services provider’s stock after purchasing an additional 5,691 shares during the period. Alphabet accounts for 1.1% of AlphaStar Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. AlphaStar Capital Management LLC’s holdings in Alphabet were worth $9,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BXM Wealth LLC grew its position in Alphabet by 24.6% during the 1st quarter. BXM Wealth LLC now owns 10,755 shares of the information services provider’s stock worth $1,666,000 after purchasing an additional 2,125 shares in the last quarter. CapWealth Advisors LLC boosted its stake in shares of Alphabet by 8.8% during the 1st quarter. CapWealth Advisors LLC now owns 57,093 shares of the information services provider’s stock valued at $8,829,000 after buying an additional 4,615 shares during the period. Stratos Investment Management LLC boosted its stake in shares of Alphabet by 15.3% during the 1st quarter. Stratos Investment Management LLC now owns 144,250 shares of the information services provider’s stock valued at $22,307,000 after buying an additional 19,189 shares during the period. Blackhawk Capital Partners LLC. boosted its stake in shares of Alphabet by 8.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after buying an additional 2,434 shares during the period. Finally, May Hill Capital LLC boosted its stake in shares of Alphabet by 6.3% during the 1st quarter. May Hill Capital LLC now owns 7,256 shares of the information services provider’s stock valued at $1,122,000 after buying an additional 430 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Citigroup reissued a “buy” rating and set a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Wells Fargo & Company lifted their target price on shares of Alphabet from $175.00 to $177.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JMP Securities raised shares of Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Finally, Tigress Financial lifted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.61.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,443 shares of company stock worth $36,298,548. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $181.56 on Tuesday. The firm’s 50-day moving average is $170.66 and its 200-day moving average is $173.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is presently 9.36%.

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.