Rehmann Capital Advisory Group Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Rehmann Capital Advisory Group increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,564 shares of the information services provider’s stock after acquiring an additional 3,152 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $6,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Optivise Advisory Services LLC increased its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. grew its stake in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Absolute Capital Management LLC grew its position in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Finally, Permanent Capital Management LP acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $273,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Morgan Stanley cut their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Finally, KeyCorp increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.89.

Alphabet Trading Down 0.3 %

Shares of Alphabet stock opened at $160.16 on Wednesday. The company has a 50-day moving average of $161.20 and a two-hundred day moving average of $175.49. The stock has a market cap of $1.95 trillion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet’s payout ratio is currently 9.36%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Insiders own 11.55% of the company’s stock.

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.