LifeWealth Investments LLC Acquires Shares of 6,661 Alphabet Inc. (NASDAQ:GOOGL)

LifeWealth Investments LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,661 shares of the information services provider’s stock, valued at approximately $1,261,000.

Several other large investors also recently added to or reduced their stakes in the stock. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $3,119,000. Optivise Advisory Services LLC lifted its position in shares of Alphabet by 8.0% in the 4th 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 during the period. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd lifted its position in shares of Alphabet by 30.0% in 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 period. Finally, Absolute Capital Management LLC raised its stake in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.4%

GOOGL stock opened at $168.47 on Monday. The firm’s fifty day simple moving average is $158.57 and its 200-day simple moving average is $174.83. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. 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 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Piper Sandler boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Roth Mkm reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Bank of America boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,654 shares of company stock valued at $26,793,380. Corporate insiders own 11.64% 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.