Signature Resources Capital Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Signature Resources Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,759 shares of the information services provider’s stock, valued at approximately $1,093,000. Alphabet makes up approximately 1.0% of Signature Resources Capital Management LLC’s portfolio, making the stock its 13th largest position.

A number of other hedge funds have also bought and sold shares of GOOG. Cranbrook Wealth Management LLC grew its holdings in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares in the last quarter. Manchester Financial Inc. raised its holdings in Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in Alphabet by 1.4% in the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after acquiring an additional 75 shares during the last quarter. Congress Park Capital LLC grew its holdings in Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after acquiring an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC raised its holdings in shares of Alphabet by 0.6% in the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock traded up $0.53 during trading on Friday, reaching $168.99. The company’s stock had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. The company has a 50-day moving average price of $151.46 and a two-hundred day moving average price of $143.69. Alphabet Inc. has a fifty-two week low of $104.70 and a fifty-two week high of $176.42. The firm has a market cap of $2.10 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business posted $1.17 earnings per share. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock valued at $40,382,765 over the last three months. 12.99% of the stock is currently owned by company insiders.

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.