Bluedoor Private Wealth LLC Makes New Investment in Alphabet Inc. $GOOG

Bluedoor Private Wealth LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, Holdings Channel reports. The firm purchased 13,436 shares of the information services provider’s stock, valued at approximately $4,216,000. Alphabet accounts for about 1.9% of Bluedoor Private Wealth LLC’s holdings, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. 71 West Capital Partners acquired a new stake in Alphabet in the 4th quarter worth $11,469,000. SurgoCap Partners LP grew its position in Alphabet by 42.0% in the 4th quarter. SurgoCap Partners LP now owns 1,250,425 shares of the information services provider’s stock worth $392,383,000 after purchasing an additional 370,014 shares during the last quarter. Alberta Investment Management Corp grew its position in Alphabet by 30.0% in the 4th quarter. Alberta Investment Management Corp now owns 98,544 shares of the information services provider’s stock worth $30,923,000 after purchasing an additional 22,744 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its position in Alphabet by 50.4% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 841 shares of the information services provider’s stock worth $264,000 after purchasing an additional 282 shares during the last quarter. Finally, Stark Wealth Management LLC acquired a new stake in Alphabet in the 4th quarter worth $935,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director directly owned 2,531 shares of the company’s stock, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 159,466 shares of company stock worth $6,957,543 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Pivotal Research restated a “buy” rating and issued a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Truist Financial set a $430.00 price target on shares of Alphabet in a research report on Monday, June 1st. Needham & Company LLC set a $400.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Oppenheimer raised their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $376.78.

Check Out Our Latest Research Report on GOOG

Trending Headlines about Alphabet

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Alphabet Price Performance

NASDAQ:GOOG opened at $371.10 on Wednesday. The company has a 50-day moving average of $360.69 and a 200-day moving average of $330.18. The company has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $2.81 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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