Alpha Cubed Investments LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Cubed Investments LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 501,136 shares of the information services provider’s stock after acquiring an additional 47,862 shares during the period. Alphabet comprises approximately 3.9% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 3rd largest holding. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $70,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meritage Group LP raised its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Macroview Investment Management LLC raised its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares during the period. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC increased its stake in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in shares of Alphabet during the fourth quarter worth approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock valued at $37,091,240 in the last three months. Insiders own 0.88% of the company’s stock.

Alphabet Trading Down 1.1 %

NASDAQ GOOGL opened at $169.38 on Thursday. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $107.19 and a twelve month high of $174.71. The business’s fifty day moving average is $151.40 and its 200 day moving average is $142.83.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company earned $1.17 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. TD Cowen increased their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Susquehanna increased their price target on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Argus increased their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Rosenblatt Securities increased their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

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.