Allied Investment Advisors LLC Buys 101 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Allied Investment Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,701 shares of the information services provider’s stock after acquiring an additional 101 shares during the period. Allied Investment Advisors LLC’s holdings in Alphabet were worth $572,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its position in Alphabet by 12.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 195,965 shares of the information services provider’s stock valued at $30,304,000 after buying an additional 20,993 shares during the period. Peoples Bank KS lifted its position in Alphabet by 2.9% during the first quarter. Peoples Bank KS now owns 19,358 shares of the information services provider’s stock valued at $2,993,000 after buying an additional 540 shares during the period. Cascade Investment Advisors Inc. lifted its position in Alphabet by 2.2% during the first quarter. Cascade Investment Advisors Inc. now owns 17,953 shares of the information services provider’s stock valued at $2,776,000 after buying an additional 390 shares during the period. Dumont & Blake Investment Advisors LLC lifted its position in Alphabet by 0.6% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 23,039 shares of the information services provider’s stock valued at $3,563,000 after buying an additional 141 shares during the period. Finally, Veery Capital LLC lifted its position in Alphabet by 21.6% during the first quarter. Veery Capital LLC now owns 3,437 shares of the information services provider’s stock valued at $532,000 after buying an additional 611 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.2%

Alphabet stock opened at $169.73 on Friday. The business has a 50-day simple moving average of $159.10 and a two-hundred day simple moving average of $174.56. The company has a market cap of $2.06 trillion, a P/E ratio of 21.08, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend 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 dividend yield of 0.49%. Alphabet’s payout ratio is 9.36%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 164,533 shares of company stock worth $26,772,774. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Piper Sandler upped their price target 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. UBS Group set a $195.00 price target on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial upped their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus dropped their price target 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. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.