Hobart Private Capital LLC Takes $200,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Hobart Private Capital LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,294 shares of the information services provider’s stock, valued at approximately $200,000.

Several other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. raised its stake in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares during the last quarter. Capital & Planning LLC raised its stake in Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after buying an additional 1,119 shares during the last quarter. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Alphabet by 3.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 17,368 shares of the information services provider’s stock worth $3,288,000 after buying an additional 498 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,654 shares of company stock worth $26,793,380. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $172.36 on Thursday. The firm has a market cap of $2.09 trillion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.34 and a beta of 1.01. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm’s 50-day simple moving average is $159.04 and its two-hundred day simple moving average is $174.73.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho reduced their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Citigroup raised their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Finally, DA Davidson reduced their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.