AlphaCore Capital LLC Grows Position in Alphabet Inc. $GOOGL

AlphaCore Capital LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 65.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,168 shares of the information services provider’s stock after purchasing an additional 30,268 shares during the period. AlphaCore Capital LLC’s holdings in Alphabet were worth $13,423,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bridgeway Capital Management LLC lifted its holdings in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares in the last quarter. Alaethes Wealth LLC grew its stake in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC increased its position in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after acquiring an additional 504 shares during the last quarter. Welch Group LLC lifted its stake in shares of Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after acquiring an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management boosted its holdings in Alphabet by 4.8% in the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 193,628 shares of company stock valued at $50,942,622 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays restated an “overweight” rating and set a $315.00 price objective (up from $250.00) on shares of Alphabet in a report on Thursday, October 30th. CICC Research lifted their price target on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 price target (up from $290.00) on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Roth Capital upped their target price on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.06.

Alphabet Stock Up 1.2%

Shares of Alphabet stock opened at $319.63 on Thursday. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $273.22 and its 200-day simple moving average is $222.36.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.