Colrain Capital LLC Acquires 2,400 Shares of Alphabet Inc. $GOOGL

Colrain Capital LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,175 shares of the information services provider’s stock after purchasing an additional 2,400 shares during the quarter. Alphabet accounts for about 5.2% of Colrain Capital LLC’s holdings, making the stock its 7th largest holding. Colrain Capital LLC’s holdings in Alphabet were worth $6,728,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mystic Asset Management Inc. raised its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Alaethes Wealth LLC grew its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC increased its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares during the period. Finally, Welch Group LLC increased its stake in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Stifel Nicolaus set a $333.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Melius Research increased their target price on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Citigroup restated a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Moffett Nathanson upped their price objective on Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 221,796 shares of company stock worth $53,983,001 over the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $276.41 on Friday. The company has a market cap of $3.34 trillion, a P/E ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The firm has a fifty day moving average price of $257.24 and a 200 day moving average price of $208.59. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $292.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

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.