30,598 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Ring Mountain Capital LLC

Ring Mountain Capital LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,598 shares of the information services provider’s stock, valued at approximately $5,792,000. Alphabet accounts for about 3.9% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other large investors also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC raised its holdings in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. Olistico Wealth LLC raised its holdings in shares of Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after acquiring an additional 11,481 shares during the last quarter. Finally, Highline Wealth Partners LLC raised its holdings in shares of Alphabet by 22.7% during the fourth quarter. Highline Wealth Partners LLC now owns 23,164 shares of the information services provider’s stock valued at $4,385,000 after acquiring an additional 4,285 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOGL shares. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. KeyCorp upped 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 restated 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 given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 0.7 %

Alphabet stock opened at $164.29 on Tuesday. Alphabet Inc. has a 1-year low of $146.08 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $2.00 trillion, a PE ratio of 20.41, a P/E/G ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average is $185.05 and its two-hundred day moving average is $176.58.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 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.