Incline Global Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Incline Global Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 76.6% during the 1st quarter, Holdings Channel reports. The firm owned 96,418 shares of the information services provider’s stock after acquiring an additional 41,836 shares during the period. Alphabet makes up about 4.7% of Incline Global Management LLC’s investment portfolio, making the stock its 16th largest holding. Incline Global Management LLC’s holdings in Alphabet were worth $14,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mark Sheptoff Financial Planning LLC raised its stake in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares in the last quarter. Strait & Sound Wealth Management LLC increased its position in shares of Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after purchasing an additional 61 shares in the last quarter. Woodward Diversified Capital LLC increased its position in shares of Alphabet by 0.7% during the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after purchasing an additional 62 shares in the last quarter. Intergy Private Wealth LLC increased its position in shares of Alphabet by 1.9% during the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after purchasing an additional 63 shares in the last quarter. Finally, Smith Anglin Financial LLC increased its position in shares of Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $0.73 during mid-day trading on Tuesday, hitting $171.86. The stock had a trading volume of 13,632,795 shares, compared to its average volume of 20,563,488. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.12 trillion, a PE ratio of 26.36, a PEG ratio of 1.25 and a beta of 1.05. The company has a 50 day moving average of $180.27 and a two-hundred day moving average of $162.43.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,808 shares of company stock valued at $25,685,868. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $182.86.

Alphabet Company 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.