Highview Capital Management LLC DE Has $4.91 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Highview Capital Management LLC DE lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,772 shares of the information services provider's stock after purchasing an additional 2,672 shares during the period. Alphabet accounts for about 2.1% of Highview Capital Management LLC DE's investment portfolio, making the stock its 14th biggest holding. Highview Capital Management LLC DE's holdings in Alphabet were worth $4,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. Elite Financial Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter worth about $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth about $49,000. Finally, Navigoe LLC bought a new position in shares of Alphabet during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred 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 directly owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,343 shares of company stock worth $31,296,140 over the last ninety days. Company insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded up $0.97 during trading hours on Wednesday, reaching $182.97. 33,066,989 shares of the company were exchanged, compared to its average volume of 32,044,822. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock's fifty day moving average is $171.67 and its two-hundred day moving average is $173.20. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.28 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 announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business earned $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Cantor Fitzgerald boosted their price objective on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday. Bank of America boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Morgan Stanley dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Mizuho dropped their price objective 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. Finally, Roth Mkm restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $201.24.

Alphabet 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.