Caliber Wealth Management LLC KS Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Caliber Wealth Management LLC acquired a new stake in Alphabet Inc., purchasing 22,010 shares valued at around $3.4 million.
• Alphabet's shares are currently trading at $189.13, down 1.4%, with a market cap of $2.30 trillion.
• The company announced a quarterly dividend of $0.21, representing an annualized dividend yield of 0.4%.

Caliber Wealth Management LLC KS bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,010 shares of the information services provider's stock, valued at approximately $3,404,000.

Other large investors also recently added to or reduced their stakes in the company. Perritt Capital Management Inc boosted its holdings in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after acquiring an additional 58 shares during the period. Nia Impact Advisors LLC increased its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares during the period. Hanlon Investment Management Inc. increased its position in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after buying an additional 60 shares during the period. Enzi Wealth increased its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the period. Finally, Whipplewood Advisors LLC increased its position in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.4%

Shares of NASDAQ:GOOGL opened at $189.13 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a 50-day moving average price of $178.32 and a 200 day moving average price of $173.12. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,399 shares of company stock valued at $43,525,794. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on GOOGL. UBS Group boosted their target price on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Cantor Fitzgerald upped their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Truist Financial reiterated a "buy" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Finally, Morgan Stanley raised their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $211.39.

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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