Mcrae Capital Management Inc. Has $8.04 Million Stake in Alphabet Inc. $GOOGL

Mcrae Capital Management Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 56.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,598 shares of the information services provider’s stock after acquiring an additional 16,478 shares during the quarter. Alphabet comprises 1.6% of Mcrae Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Mcrae Capital Management Inc.’s holdings in Alphabet were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Alphabet in the 1st quarter valued at $50,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Susquehanna boosted their price objective on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Sanford C. Bernstein raised their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, China Renaissance increased their price objective on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,896 shares of company stock worth $47,653,637 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Down 0.3%

GOOGL opened at $284.28 on Wednesday. The company has a market capitalization of $3.43 trillion, a P/E ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s fifty day moving average price is $259.16 and its two-hundred day moving average price is $211.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $293.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 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 net margin of 32.23% and a return on equity of 36.08%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) 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.