Cloud Capital Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Cloud Capital Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,678 shares of the information services provider's stock, valued at approximately $259,000.

Several other hedge funds also recently bought and sold shares of the company. Wealth Group Ltd. increased its holdings in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after acquiring an additional 78 shares during the last quarter. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $180.19 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business has a 50 day simple moving average of $170.32 and a 200 day simple moving average of $173.31.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Jefferies Financial Group lowered their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Stifel Nicolaus lowered their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Citigroup reaffirmed a "buy" rating and issued a $203.00 target price (up previously from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.61.

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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