Global Financial Private Client LLC Acquires 508 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Global Financial Private Client LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,342 shares of the information services provider’s stock after purchasing an additional 508 shares during the period. Global Financial Private Client LLC’s holdings in Alphabet were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Compass Planning Associates Inc bought a new stake in Alphabet during the 4th quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth about $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new position in Alphabet during the 4th quarter worth about $49,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $171.86 on Friday. The firm has a market cap of $2.09 trillion, a PE ratio of 21.35, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $159.12 and a 200-day moving average of $174.68. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

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 return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced 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 is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. KeyCorp lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Ten investment 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 stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,533 shares of company stock worth $26,772,774 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.