Axecap Investments LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Axecap Investments LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,450 shares of the information services provider’s stock, valued at approximately $240,000.

Several other large investors have also recently made changes to their positions in the business. McAdam LLC increased its holdings in shares of Alphabet by 9.6% during the third quarter. McAdam LLC now owns 10,757 shares of the information services provider’s stock valued at $1,784,000 after acquiring an additional 944 shares in the last quarter. MFA Wealth Advisors LLC grew its position in Alphabet by 5,615.1% during the 3rd quarter. MFA Wealth Advisors LLC now owns 18,174 shares of the information services provider’s stock valued at $3,014,000 after purchasing an additional 17,856 shares during the last quarter. Fulcrum Capital LLC bought a new stake in Alphabet during the 3rd quarter valued at about $17,714,000. Wallington Asset Management LLC purchased a new position in Alphabet in the third quarter worth about $533,000. Finally, Courier Capital LLC lifted its stake in shares of Alphabet by 1.0% in the third quarter. Courier Capital LLC now owns 13,832 shares of the information services provider’s stock worth $2,294,000 after buying an additional 131 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given 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 an average price target of $205.51.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,244 shares of company stock worth $37,776,954. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.29 on Monday. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $126.93 and a twelve month high of $191.75. The business has a 50-day moving average price of $162.43 and a 200-day moving average price of $169.10. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 10.61%.

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.