Dock Street Asset Management Inc. Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Dock Street Asset Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,023 shares of the information services provider’s stock after acquiring an additional 700 shares during the quarter. Alphabet makes up approximately 0.1% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Alphabet by 0.9% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 62,931 shares of the information services provider’s stock worth $10,437,000 after acquiring an additional 574 shares during the period. RFG Holdings Inc. increased its stake in shares of Alphabet by 8.8% during the third quarter. RFG Holdings Inc. now owns 1,862 shares of the information services provider’s stock worth $309,000 after purchasing an additional 151 shares in the last quarter. First Affirmative Financial Network raised its position in shares of Alphabet by 74.6% during the 3rd quarter. First Affirmative Financial Network now owns 18,525 shares of the information services provider’s stock worth $3,072,000 after purchasing an additional 7,917 shares during the last quarter. Level Financial Advisors purchased a new position in Alphabet in the 3rd quarter valued at about $469,000. Finally, Meyer Handelman Co. boosted its holdings in Alphabet by 3.3% in the 3rd quarter. Meyer Handelman Co. now owns 109,283 shares of the information services provider’s stock worth $18,125,000 after buying an additional 3,450 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Citigroup lowered their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Morgan Stanley cut their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $185.23 on Tuesday. The firm has a 50 day moving average of $192.85 and a two-hundred day moving average of $175.20. The stock has a market capitalization of $2.27 trillion, a PE ratio of 23.01, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts predict that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.