Stenger Family Office LLC Invests $7.41 Million in Alphabet Inc. (NASDAQ:GOOGL)

Stenger Family Office LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 39,137 shares of the information services provider’s stock, valued at approximately $7,409,000. Alphabet accounts for 2.5% of Stenger Family Office LLC’s investment portfolio, making the stock its 9th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $151.08 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 firm has a 50 day moving average price of $165.14 and a 200-day moving average price of $175.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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 forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. KeyCorp dropped their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald reduced their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet 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.