Silverleafe Capital Partners LLC Buys Shares of 2,971 Alphabet Inc. $GOOGL

Silverleafe Capital Partners LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,971 shares of the information services provider’s stock, valued at approximately $930,000.

A number of other institutional investors also recently made changes to their positions in GOOGL. State Street Corp raised its holdings in Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Norges Bank acquired a new stake in Alphabet in the second quarter worth approximately $21,944,208,000. Capital World Investors boosted its stake in Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 15.7% during the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Alphabet by 2.3% during the 3rd quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider’s stock valued at $10,984,744,000 after purchasing an additional 1,034,292 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $273.50 on Tuesday. The stock’s fifty day simple moving average is $311.94 and its 200 day simple moving average is $295.63. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.10. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 7.77%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares in the company, valued at $1,405,091.71. This trade represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,092,336 shares of company stock valued at $112,519,943. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Pivotal Research boosted their price objective on Alphabet from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Rosenblatt Securities lifted their target price on Alphabet from $279.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $395.00 price target (up from $346.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, DZ Bank reissued a “buy” rating on shares of Alphabet in a report on Monday, February 16th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.06.

Check Out Our Latest Stock Analysis on GOOGL

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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