Dale Q Rice Investment Management Ltd Makes New $5.75 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Dale Q Rice Investment Management Ltd bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, HoldingsChannel.com reports. The fund bought 30,352 shares of the information services provider’s stock, valued at approximately $5,746,000. Alphabet makes up about 2.5% of Dale Q Rice Investment Management Ltd’s holdings, making the stock its 8th largest holding.

Several other hedge funds have also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new position in Alphabet during the third quarter valued at $32,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP bought a new stake in Alphabet in the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC boosted its position in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $189.66 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.32 trillion, a PE ratio of 25.15, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The stock has a fifty day moving average price of $183.45 and a 200-day moving average price of $173.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business posted $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,553 shares of company stock valued at $23,817,951. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein lifted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.15.

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.