NCM Capital Management LLC Buys New Stake in Alphabet Inc. (NASDAQ:GOOG)

NCM Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,742 shares of the information services provider’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth about $27,000. LSV Asset Management bought a new stake in Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter worth $43,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOG. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $203.94.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,744 shares of company stock worth $20,968,366 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.32 on Wednesday. The company has a 50 day moving average price of $160.18 and a 200 day moving average price of $176.66. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the company posted $1.89 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is presently 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.