Core Alternative Capital Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Core Alternative Capital lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,746 shares of the information services provider’s stock after selling 12,137 shares during the period. Alphabet accounts for about 3.5% of Core Alternative Capital’s holdings, making the stock its 4th biggest position. Core Alternative Capital’s holdings in Alphabet were worth $16,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. M&G PLC bought a new stake in Alphabet during the third quarter valued at approximately $2,240,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC raised its position in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $927,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 in the last three months. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GOOG shares. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $186.87 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company’s 50-day moving average is $194.16 and its 200 day moving average is $176.54. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.