Carmel Capital Partners LLC Purchases 179 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Carmel Capital Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,405 shares of the information services provider’s stock after acquiring an additional 179 shares during the quarter. Carmel Capital Partners LLC’s holdings in Alphabet were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the fourth quarter valued at about $30,000. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.0 %

NASDAQ:GOOGL opened at $163.89 on Thursday. 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 Inc. has a 12 month low of $146.74 and a 12 month high of $207.05. The company has a market cap of $2.00 trillion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50 day simple moving average of $183.75 and a two-hundred day simple moving average of $176.47.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid 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 dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were 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 in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOGL shares. Wedbush increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Bank of America reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. KeyCorp dropped their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday. Finally, Piper Sandler dropped their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten 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 company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

About Alphabet

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.