17 Capital Partners LLC Acquires 297 Shares of Alphabet Inc. (NASDAQ:GOOGL)

17 Capital Partners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,282 shares of the information services provider’s stock after acquiring an additional 297 shares during the period. Alphabet accounts for approximately 2.4% of 17 Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. 17 Capital Partners LLC’s holdings in Alphabet were worth $3,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in 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 worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $39,000. Denver PWM LLC increased its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the third quarter worth approximately $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley lowered their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.19 on Thursday. The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.99. The business has a fifty day moving average of $192.81 and a 200-day moving average of $175.49. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,919 shares of company stock worth $18,528,318. 11.55% of the stock is currently owned by 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.