Koshinski Asset Management Inc. Has $11.64 Million Stake in Alphabet Inc. $GOOGL

Koshinski Asset Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,187 shares of the information services provider’s stock after purchasing an additional 2,528 shares during the period. Alphabet comprises 0.8% of Koshinski Asset Management Inc.’s portfolio, making the stock its 24th largest holding. Koshinski Asset Management Inc.’s holdings in Alphabet were worth $11,640,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new stake in Alphabet during the third quarter worth approximately $416,217,000. Sovran Advisors LLC boosted its position in Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock worth $5,401,000 after purchasing an additional 4,241 shares during the period. Wright Investors Service Inc. boosted its position in Alphabet by 21.2% during the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider’s stock worth $12,171,000 after purchasing an additional 8,746 shares during the period. Belpointe Asset Management LLC boosted its position in Alphabet by 5.4% during the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock worth $17,652,000 after purchasing an additional 3,740 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Alphabet by 3.8% during the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock worth $405,131,000 after purchasing an additional 60,831 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.5%

Shares of GOOGL stock opened at $388.88 on Wednesday. The stock has a market cap of $4.71 trillion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The stock has a fifty day moving average price of $341.07 and a 200 day moving average price of $323.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares of the company’s stock, valued at $2,955,564. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders sold 226,481 shares of company stock valued at $27,422,061 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Sanford C. Bernstein reissued a “market perform” rating and issued a $390.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. BMO Capital Markets increased their price objective on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Moffett Nathanson increased their price objective on Alphabet from $305.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Barclays reissued an “overweight” rating and issued a $405.00 price objective (up from $360.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $412.65.

Get Our Latest Research Report on Alphabet

About Alphabet

(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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