Ayrshire Capital Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Ayrshire Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel reports. The firm acquired 2,407 shares of the information services provider’s stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in Alphabet in the third quarter valued at $32,000. Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $41,000. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth about $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet during the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC boosted its holdings in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,553 shares of company stock worth $23,817,951 in the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. Truist Financial raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.15.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $189.66 on Wednesday. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The firm has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The business’s 50 day simple moving average is $183.45 and its 200-day simple moving average is $173.04. 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 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm earned $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 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.