Boothbay Fund Management LLC Purchases 229 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Boothbay Fund Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,178 shares of the information services provider’s stock after acquiring an additional 229 shares during the quarter. Boothbay Fund Management LLC’s holdings in Alphabet were worth $2,116,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Optivise Advisory Services LLC raised its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its stake in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares in the last quarter. Absolute Capital Management LLC raised its stake in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares in the last quarter. Finally, Permanent Capital Management LP bought a new position in shares of Alphabet during the 4th quarter worth approximately $273,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on 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 owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock worth $25,361,647. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus cut their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Roth Mkm restated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.63.

Alphabet Stock Performance

GOOGL opened at $161.96 on Monday. The firm’s fifty day simple moving average is $162.18 and its two-hundred day simple moving average is $175.62. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market cap of $1.97 trillion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.52%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

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.