Courage Capital Management LLC Grows Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Courage Capital Management LLC increased its stake in Alphabet Inc. by 90.9% during the first quarter, owning a total of 10,500 shares valued at approximately $1.64 million.
• Analysts have raised their price targets for Alphabet, with recent ratings reflecting a consensus price target of $215.19 and a majority recommending a "Moderate Buy".
• Alphabet declared a quarterly dividend of $0.21 per share, set to be paid on September 15th, representing an annualized dividend yield of 0.4%.

Courage Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 90.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the information services provider's stock after acquiring an additional 5,000 shares during the period. Alphabet accounts for 3.3% of Courage Capital Management LLC's portfolio, making the stock its 8th largest holding. Courage Capital Management LLC's holdings in Alphabet were worth $1,640,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Oppenheimer restated an "outperform" rating and set a $235.00 price objective (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Scotiabank raised their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $200.62 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock has a market capitalization of $2.43 trillion, a P/E ratio of 21.37, a PEG ratio of 1.35 and a beta of 1.02. The firm has a fifty day simple moving average of $187.09 and a two-hundred day simple moving average of $174.87. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the company posted $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. 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 payout ratio is currently 8.95%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 in the last quarter. 12.99% of the stock is currently owned by company insiders.

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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