Shorepoint Capital Partners LLC Has $6.13 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Shorepoint Capital Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,397 shares of the information services provider’s stock after purchasing an additional 586 shares during the quarter. Alphabet comprises about 1.4% of Shorepoint Capital Partners LLC’s portfolio, making the stock its 23rd biggest holding. Shorepoint Capital Partners LLC’s holdings in Alphabet were worth $6,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% in 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 in the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp grew its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Finally, Denver PWM LLC increased its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares of the company’s stock, valued at $419,320,207.36. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’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 transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOGL shares. Wells Fargo & Company increased their target price on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. Susquehanna cut their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday. Roth Mkm reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, KeyCorp boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $198.63.

Alphabet Stock Up 1.7 %

Alphabet stock opened at $161.96 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $1.97 trillion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm’s 50-day simple moving average is $162.18 and its 200 day simple moving average is $175.52.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.