Postrock Partners LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Postrock Partners LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,158 shares of the information services provider’s stock, valued at approximately $9,116,000. Alphabet comprises about 4.4% of Postrock Partners LLC’s investment portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Alphabet by 37.9% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 13,125 shares of the information services provider’s stock worth $2,484,000 after buying an additional 3,605 shares during the last quarter. Intact Investment Management Inc. raised its position in Alphabet by 491.4% in the fourth quarter. Intact Investment Management Inc. now owns 149,500 shares of the information services provider’s stock valued at $28,300,000 after purchasing an additional 124,220 shares during the period. Northwest Wealth Management LLC lifted its stake in shares of Alphabet by 9.5% in the 4th quarter. Northwest Wealth Management LLC now owns 2,909 shares of the information services provider’s stock valued at $551,000 after purchasing an additional 253 shares during the last quarter. King Wealth Management Group grew its holdings in shares of Alphabet by 6.9% during the 4th quarter. King Wealth Management Group now owns 64,976 shares of the information services provider’s stock worth $12,300,000 after purchasing an additional 4,187 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Alphabet during the 4th quarter worth about $5,656,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.7 %

NASDAQ GOOGL opened at $170.56 on Wednesday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a 50-day moving average price of $181.72 and a 200 day moving average price of $176.86. The stock has a market capitalization of $2.08 trillion, a P/E ratio of 21.19, a P/E/G ratio of 1.34 and a beta of 1.02. 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 posted its quarterly 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%. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, KeyCorp dropped their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Ten equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.59.

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.