AlphaStar Capital Management LLC Has $1.38 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

AlphaStar Capital Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,815 shares of the information services provider’s stock after purchasing an additional 464 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Alphabet were worth $1,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stratos Investment Management LLC boosted its stake in shares of Alphabet by 6.2% in the first quarter. Stratos Investment Management LLC now owns 25,412 shares of the information services provider’s stock worth $3,970,000 after acquiring an additional 1,476 shares during the period. May Hill Capital LLC boosted its position in shares of Alphabet by 82.2% in the 1st quarter. May Hill Capital LLC now owns 5,614 shares of the information services provider’s stock worth $877,000 after purchasing an additional 2,533 shares in the last quarter. Navalign LLC raised its stake in shares of Alphabet by 1.3% during the 1st quarter. Navalign LLC now owns 8,281 shares of the information services provider’s stock valued at $1,294,000 after buying an additional 109 shares during the last quarter. Sigma Investment Counselors Inc. increased its stake in shares of Alphabet by 1.0% in the 1st quarter. Sigma Investment Counselors Inc. now owns 8,288 shares of the information services provider’s stock valued at $1,295,000 after purchasing an additional 85 shares in the last quarter. Finally, Walter Public Investments Inc. increased its stake in Alphabet by 2.5% during the 1st quarter. Walter Public Investments Inc. now owns 161,623 shares of the information services provider’s stock worth $25,250,000 after buying an additional 3,866 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Scotiabank dropped their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.38.

Alphabet Stock Down 0.3%

GOOG opened at $177.11 on Tuesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.15 trillion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The company has a 50 day moving average of $170.28 and a 200 day moving average of $175.29.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is 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.