Incline Global Management LLC Takes $5.41 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Incline Global Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, HoldingsChannel reports. The fund acquired 32,594 shares of the information services provider’s stock, valued at approximately $5,406,000. Alphabet comprises about 2.4% of Incline Global Management LLC’s portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC lifted its position in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank boosted its position in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Finally, Cutler Investment Counsel LLC grew its stake in Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.08.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock worth $34,413,006 in the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $189.82 on Friday. The company’s 50 day moving average price is $171.63 and its two-hundred day moving average price is $170.71. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.