50,719 Shares in Alphabet Inc. $GOOG Purchased by Rare Wolf Capital LLC

Rare Wolf Capital LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 50,719 shares of the information services provider’s stock, valued at approximately $15,916,000. Alphabet comprises about 9.9% of Rare Wolf Capital LLC’s investment portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC grew its holdings in Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $658,000. Financial Advisors Network Inc. increased its position in Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. raised its stake in Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Wells Fargo & Company restated an “overweight” rating and set a $435.00 price objective on shares of Alphabet in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Finally, Truist Financial set a $430.00 target price on shares of Alphabet in a research report on Monday, June 1st. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $376.78.

View Our Latest Stock Report on Alphabet

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director directly owned 2,531 shares of the company’s stock, valued at $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,516 shares of company stock valued at $7,344,604. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $367.46 on Friday. The company has a market capitalization of $4.45 trillion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $404.47. The business has a 50 day moving average price of $363.25 and a two-hundred day moving average price of $330.81.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm earned $2.81 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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