Clear Creek Financial Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Clear Creek Financial Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,314 shares of the information services provider's stock after purchasing an additional 2,855 shares during the quarter. Clear Creek Financial Management LLC's holdings in Alphabet were worth $3,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Anderson Financial Strategies LLC purchased a new stake in Alphabet in the 4th quarter valued at about $49,000. EQ Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction 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. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price for the company in a report on Friday, June 27th. Tigress Financial boosted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a "buy" rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.13.

Alphabet Stock Performance

GOOGL traded down $2.43 on Tuesday, hitting $174.36. The company's stock had a trading volume of 40,387,277 shares, compared to its average volume of 31,635,871. The company's 50 day simple moving average is $169.03 and its 200-day simple moving average is $173.67. The firm has a market cap of $2.12 trillion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 EPS. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

About Alphabet

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.