Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Increased by Instrumental Wealth LLC

Instrumental Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 16.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,593 shares of the information services provider’s stock after acquiring an additional 366 shares during the quarter. Alphabet comprises 0.4% of Instrumental Wealth LLC’s portfolio, making the stock its 25th largest holding. Instrumental Wealth LLC’s holdings in Alphabet were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Compass Planning Associates Inc bought a new position in Alphabet during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp raised its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Alphabet during the fourth quarter valued at approximately $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.4%

Shares of Alphabet stock opened at $168.47 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $158.57 and its 200-day simple moving average is $174.87. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last 90 days. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group set a $195.00 price target on shares of Alphabet in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.