Enhancing Capital LLC Takes $1.16 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Enhancing Capital LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,100 shares of the information services provider’s stock, valued at approximately $1,155,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC boosted its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Permanent Capital Management LP bought a new stake in Alphabet in the fourth quarter worth $273,000. Landscape Capital Management L.L.C. boosted its stake in 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 worth $4,192,000 after buying an additional 5,516 shares during the period. Glass Wealth Management Co LLC increased its position in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC raised its stake in shares of Alphabet by 9.1% in 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 period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GOOGL shares. Roth Mkm restated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Bank of America reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, DA Davidson raised their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Price Performance

Shares of GOOGL opened at $154.33 on Friday. 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 company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. The business’s 50-day moving average is $179.66 and its 200-day moving average is $176.92. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling

In related news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This trade represents a 19.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,812 shares of company stock valued at $19,336,979 over the last three months. 11.55% of the stock is owned by corporate insiders.

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.