AlphaCore Capital LLC Purchases 4,307 Shares of Alphabet Inc. (NASDAQ:GOOG)

AlphaCore Capital LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,005 shares of the information services provider's stock after buying an additional 4,307 shares during the quarter. Alphabet makes up 1.1% of AlphaCore Capital LLC's holdings, making the stock its 18th largest holding. AlphaCore Capital LLC's holdings in Alphabet were worth $4,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at about $27,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the fourth quarter valued at about $43,000. Institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $203.94.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now directly owns 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,654 shares of company stock worth $26,793,380 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.4%

Shares of NASDAQ:GOOG opened at $169.59 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market capitalization of $2.06 trillion, a PE ratio of 21.07, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average of $160.47 and a two-hundred day moving average of $176.61. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the company posted $1.89 earnings per share. Alphabet's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet's payout ratio is presently 9.36%.

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.

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