Alphabet Inc. (NASDAQ:GOOGL) is GraniteShares Advisors LLC’s 3rd Largest Position

GraniteShares Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,462 shares of the information services provider’s stock after buying an additional 798 shares during the quarter. Alphabet makes up approximately 2.6% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 3rd largest position. GraniteShares Advisors LLC’s holdings in Alphabet were worth $4,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Lake Street Advisors Group LLC grew its holdings in shares of Alphabet by 2.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 69,680 shares of the information services provider’s stock worth $13,190,000 after purchasing an additional 1,370 shares during the period. JFG Wealth Management LLC lifted its stake in Alphabet by 90.3% during the 4th quarter. JFG Wealth Management LLC now owns 5,674 shares of the information services provider’s stock worth $1,074,000 after acquiring an additional 2,693 shares in the last quarter. Provident Wealth Management LLC lifted its stake in Alphabet by 44.3% during the 4th quarter. Provident Wealth Management LLC now owns 1,299 shares of the information services provider’s stock worth $246,000 after acquiring an additional 399 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in Alphabet by 9.0% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 18,431 shares of the information services provider’s stock worth $3,489,000 after acquiring an additional 1,523 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in Alphabet during the 4th quarter worth about $2,690,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOGL. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. KeyCorp increased their price target on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Ten investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock worth $18,192,354 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 4.6 %

Shares of GOOGL stock opened at $165.87 on Tuesday. The business’s 50 day moving average is $187.71 and its two-hundred day moving average is $176.56. Alphabet Inc. has a twelve month low of $136.13 and a twelve month high of $207.05. The company has a market capitalization of $2.02 trillion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm 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 dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) 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.