Highview Capital Management LLC DE Acquires 2,672 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Highview Capital Management LLC DE increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,772 shares of the information services provider’s stock after buying an additional 2,672 shares during the period. Alphabet comprises approximately 2.1% of Highview Capital Management LLC DE’s investment portfolio, making the stock its 14th biggest holding. Highview Capital Management LLC DE’s holdings in Alphabet were worth $4,913,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. Elite Financial Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $42,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $49,000. EQ Wealth Advisors LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $49,000. Finally, Navigoe LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $51,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Jefferies Financial Group cut their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Citigroup restated a “buy” rating and issued a $203.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.61.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $181.56 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $170.66 and a two-hundred day moving average of $173.07. The stock has a market cap of $2.20 trillion, a P/E ratio of 20.24, a P/E/G ratio of 1.27 and a beta of 1.00.

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

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,443 shares of company stock valued at $36,298,548. Insiders own 11.55% of the company’s stock.

Alphabet Company 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.