Alpha Cubed Investments LLC Has $101.69 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Cubed Investments LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 537,201 shares of the information services provider’s stock after buying an additional 10,245 shares during the period. Alphabet comprises about 4.6% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 4th largest position. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $101,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Clear Harbor Asset Management LLC increased its stake in Alphabet by 3.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 92,528 shares of the information services provider’s stock valued at $17,516,000 after purchasing an additional 3,293 shares during the last quarter. ADE LLC increased its stake in Alphabet by 9.9% during the fourth quarter. ADE LLC now owns 1,770 shares of the information services provider’s stock valued at $335,000 after purchasing an additional 160 shares during the last quarter. Segment Wealth Management LLC increased its stake in Alphabet by 315.2% during the fourth quarter. Segment Wealth Management LLC now owns 82,219 shares of the information services provider’s stock valued at $15,564,000 after purchasing an additional 62,419 shares during the last quarter. Solidarity Wealth LLC increased its stake in Alphabet by 3.5% during the fourth quarter. Solidarity Wealth LLC now owns 104,013 shares of the information services provider’s stock valued at $19,690,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Aspiriant LLC increased its stake in Alphabet by 1.4% during the fourth quarter. Aspiriant LLC now owns 80,473 shares of the information services provider’s stock valued at $15,233,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.44.

Check Out Our Latest Analysis on GOOGL

Alphabet Price Performance

Shares of GOOGL opened at $200.21 on Friday. The company has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50-day moving average is $186.46 and its 200-day moving average is $173.80.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is 10.61%.

About Alphabet

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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