Steele Capital Management Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Steele Capital Management Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,754 shares of the information services provider’s stock, valued at approximately $1,093,000.

Other hedge funds have also bought and sold shares of the company. Riversedge Advisors LLC boosted its position in Alphabet by 67.3% during the third quarter. Riversedge Advisors LLC now owns 5,422 shares of the information services provider’s stock worth $715,000 after purchasing an additional 2,182 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Alphabet by 6.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 24,604 shares of the information services provider’s stock worth $3,244,000 after buying an additional 1,574 shares during the last quarter. Chronos Wealth Management LLC lifted its stake in shares of Alphabet by 0.3% during the 3rd quarter. Chronos Wealth Management LLC now owns 69,091 shares of the information services provider’s stock worth $9,110,000 after buying an additional 197 shares during the last quarter. Connecticut Wealth Management LLC boosted its holdings in shares of Alphabet by 56.1% during the 3rd quarter. Connecticut Wealth Management LLC now owns 23,241 shares of the information services provider’s stock worth $3,064,000 after buying an additional 8,351 shares during the period. Finally, Red Door Wealth Management LLC grew its stake in Alphabet by 1.2% in the 3rd quarter. Red Door Wealth Management LLC now owns 78,823 shares of the information services provider’s stock valued at $10,393,000 after buying an additional 915 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,289 shares of company stock worth $36,724,534. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9 %

Shares of Alphabet stock opened at $164.64 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.31 and a beta of 1.05. The firm’s 50-day moving average price is $150.09 and its two-hundred day moving average price is $143.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, analysts forecast that Alphabet Inc. will post 7.46 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOG shares. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $165.67.

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.