Dale Q Rice Investment Management Ltd Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Dale Q Rice Investment Management Ltd purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,352 shares of the information services provider’s stock, valued at approximately $5,746,000. Alphabet makes up 2.5% of Dale Q Rice Investment Management Ltd’s holdings, making the stock its 8th largest holding.

Other large investors also recently modified their holdings of the company. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares in the last quarter. Denver PWM LLC increased its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. First PREMIER Bank lifted its position in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Cutler Investment Counsel LLC boosted its stake in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after acquiring an additional 61 shares in the last quarter. Finally, MKT Advisors LLC grew its holdings in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,553 shares of company stock valued at $23,817,951. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $189.66 on Wednesday. The company has a market capitalization of $2.32 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The firm’s 50 day simple moving average is $183.45 and its two-hundred 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 earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.