Del Sette Capital Management LLC Has $2.14 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Del Sette Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 192.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,251 shares of the information services provider’s stock after buying an additional 7,406 shares during the quarter. Alphabet accounts for 1.7% of Del Sette Capital Management LLC’s holdings, making the stock its 20th biggest holding. Del Sette Capital Management LLC’s holdings in Alphabet were worth $2,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the period. Advisors Asset Management Inc. lifted its position in Alphabet by 7.2% during the third quarter. Advisors Asset Management Inc. now owns 13,526 shares of the information services provider’s stock worth $2,261,000 after purchasing an additional 909 shares during the period. Eagle Asset Management Inc. grew its stake in Alphabet by 11.3% during the third quarter. Eagle Asset Management Inc. now owns 165,135 shares of the information services provider’s stock worth $29,701,000 after buying an additional 16,807 shares in the last quarter. Stonebrook Private Inc. increased its holdings in Alphabet by 1.7% in the 3rd quarter. Stonebrook Private Inc. now owns 9,731 shares of the information services provider’s stock valued at $1,627,000 after buying an additional 159 shares during the period. Finally, GenTrust LLC raised its position in shares of Alphabet by 95.4% in the 3rd quarter. GenTrust LLC now owns 8,491 shares of the information services provider’s stock valued at $1,420,000 after buying an additional 4,146 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GOOG shares. Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.25 on Friday. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.34 and a beta of 1.03. 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 twelve month low of $148.20 and a twelve month high of $208.70. The stock has a fifty day simple moving average of $184.37 and a 200 day simple moving average of $178.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.

About Alphabet

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.