Obermeyer Wealth Partners Has $7.28 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Obermeyer Wealth Partners boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,451 shares of the information services provider’s stock after purchasing an additional 2,088 shares during the period. Obermeyer Wealth Partners’ holdings in Alphabet were worth $7,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its stake in Alphabet by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock valued at $4,455,000 after buying an additional 207 shares during the last quarter. Wealth Group Ltd. raised its holdings in Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares during the period. Czech National Bank lifted its position in Alphabet by 6.2% during the 4th quarter. Czech National Bank now owns 1,267,139 shares of the information services provider’s stock worth $239,869,000 after acquiring an additional 73,598 shares during the last quarter. Finally, Paragon Advisors LLC grew its position in shares of Alphabet by 20.9% in the fourth quarter. Paragon Advisors LLC now owns 29,759 shares of the information services provider’s stock valued at $5,633,000 after purchasing an additional 5,148 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Up 3.7%

NASDAQ:GOOGL opened at $158.46 on Tuesday. The stock has a 50-day simple moving average of $158.63 and a 200 day simple moving average of $175.22. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market cap of $1.92 trillion, a PE ratio of 19.68, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced 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 represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOGL shares. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. KeyCorp upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Tigress Financial lifted their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

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.