Mascagni Wealth Management Inc. Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mascagni Wealth Management Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,373 shares of the information services provider’s stock, valued at approximately $449,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% in 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 purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Alphabet in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Stifel Nicolaus reduced their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’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 transaction, the chief accounting officer now owns 15,024 shares in the company, 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. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.3%

GOOGL opened at $172.36 on Thursday. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm’s fifty day simple moving average is $159.04 and its 200 day simple moving average is $174.73. 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 (NASDAQ:GOOGL) last posted 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 analysts’ expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 9.36%.

Alphabet Company 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.