Dock Street Asset Management Inc. Acquires 54,319 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Dock Street Asset Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 901.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,342 shares of the information services provider's stock after acquiring an additional 54,319 shares during the period. Alphabet comprises approximately 1.1% of Dock Street Asset Management Inc.'s portfolio, making the stock its 23rd biggest holding. Dock Street Asset Management Inc.'s holdings in Alphabet were worth $9,331,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Perritt Capital Management Inc boosted its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the last quarter. Nia Impact Advisors LLC lifted its holdings in shares of Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the period. Hanlon Investment Management Inc. boosted its stake in shares of Alphabet by 1.7% in the 4th 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 last quarter. Enzi Wealth boosted its stake in shares of Alphabet by 2.5% in the 1st 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 last quarter. Finally, Whipplewood Advisors LLC grew its holdings in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after acquiring an additional 67 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 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 $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,843 shares of company stock worth $37,288,490. Insiders own 11.64% of the company's stock.

Alphabet Stock Up 0.8%

GOOGL stock opened at $185.06 on Friday. The firm's fifty day simple moving average is $172.90 and its 200-day simple moving average is $173.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $2.25 trillion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

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

Alphabet Increases Dividend

The company also recently disclosed 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 is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Tigress Financial boosted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald increased their price objective on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wedbush set a $190.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $201.68.

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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