Hollencrest Capital Management Acquires 781 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hollencrest Capital Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 323,041 shares of the information services provider’s stock after buying an additional 781 shares during the period. Alphabet accounts for 2.2% of Hollencrest Capital Management’s investment portfolio, making the stock its 11th biggest position. Hollencrest Capital Management’s holdings in Alphabet were worth $53,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. First PREMIER Bank lifted its stake in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares in the last quarter. Finally, MKT Advisors LLC lifted its stake in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $167.83 on Friday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. The company’s 50 day moving average is $167.50 and its 200 day moving average is $170.38.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 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.