Morse Asset Management Inc Has $16.13 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Morse Asset Management Inc lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 88,557 shares of the information services provider’s stock after selling 1,801 shares during the period. Alphabet comprises about 3.9% of Morse Asset Management Inc’s investment portfolio, making the stock its 4th biggest position. Morse Asset Management Inc’s holdings in Alphabet were worth $16,131,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter valued at $30,000. Kings Path Partners LLC purchased a new stake in Alphabet during the 2nd quarter valued at $36,000. Finally, Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $167.06 on Friday. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $162.06 and its 200-day moving average price is $167.28. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the business posted $1.44 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOGL. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. UBS Group boosted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 in the last 90 days. 11.55% of the stock is currently owned by insiders.

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.