Transcendent Capital Group LLC Takes $1.62 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Transcendent Capital Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,578 shares of the information services provider’s stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Meritage Group LP increased its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC increased its stake in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now directly owns 8,791 shares of the company’s stock, valued at $1,314,254.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John L. Hennessy sold 500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now directly owns 8,791 shares of the company’s stock, valued at $1,314,254.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,958 shares of company stock worth $25,805,853. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Bank of America reiterated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Tuesday, June 11th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Mizuho boosted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Wedbush boosted their price objective on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $1.63 during mid-day trading on Friday, reaching $176.79. The company had a trading volume of 18,063,555 shares, compared to its average volume of 21,874,168. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.41. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.33 and a beta of 1.01. The business’s 50-day simple moving average is $168.08 and its 200 day simple moving average is $151.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the business earned $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.