Davis Capital Management Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Davis Capital Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,473 shares of the information services provider’s stock after buying an additional 118 shares during the period. Davis Capital Management’s holdings in Alphabet were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $38,000. Meritage Group LP grew its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC grew its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC grew its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,958 shares of company stock worth $22,383,553. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.2 %

Shares of NASDAQ GOOGL traded down $2.15 during midday trading on Wednesday, hitting $175.09. 21,869,857 shares of the company traded hands, compared to its average volume of 21,406,588. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $180.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a 50-day moving average price of $168.90 and a 200 day moving average price of $151.73. The firm has a market cap of $2.16 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GOOGL shares. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Royal Bank of Canada upped their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Rosenblatt Securities upped their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their target price on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $193.26.

Check Out Our Latest Research Report on GOOGL

About Alphabet

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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