Holcombe Financial Inc. Invests $242,000 in Alphabet Inc. (NASDAQ:GOOGL)

Holcombe Financial Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,280 shares of the information services provider’s stock, valued at approximately $242,000.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Passumpsic Savings Bank grew its holdings in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 1,294 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Alphabet by 0.5% in the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock valued at $6,199,000 after acquiring an additional 202 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Alphabet by 6.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock worth $382,000 after acquiring an additional 130 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its position in Alphabet by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock valued at $22,703,000 after purchasing an additional 22,169 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.5 %

GOOGL stock opened at $151.08 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market capitalization of $1.84 trillion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company’s 50 day moving average price is $165.14 and its two-hundred day moving average price is $175.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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

Alphabet Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Cantor Fitzgerald dropped their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price target on shares of Alphabet in a research report on Wednesday, April 16th. Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.74.

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.