Hollencrest Capital Management Has $11.57 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hollencrest Capital Management grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,745 shares of the information services provider’s stock after purchasing an additional 9,916 shares during the quarter. Hollencrest Capital Management’s holdings in Alphabet were worth $11,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Wilson Asset Management International PTY Ltd. boosted its stake in shares of Alphabet by 75.9% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 102,527 shares of the information services provider’s stock valued at $19,525,000 after purchasing an additional 44,247 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Alphabet by 2.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 56,581 shares of the information services provider’s stock valued at $10,775,000 after purchasing an additional 1,592 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Alphabet by 2.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 540,093 shares of the information services provider’s stock valued at $102,855,000 after purchasing an additional 14,375 shares during the last quarter. Saturna Capital Corp bought a new position in shares of Alphabet in the 4th quarter valued at about $273,000. Finally, Summit X LLC boosted its stake in shares of Alphabet by 1.3% in the 4th quarter. Summit X LLC now owns 11,572 shares of the information services provider’s stock valued at $2,204,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock worth $18,192,354 over the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

NASDAQ GOOG opened at $165.98 on Wednesday. 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 12-month low of $138.21 and a 12-month high of $208.70. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm’s 50 day moving average is $188.87 and its 200-day moving average is $178.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.