Everhart Financial Group Inc. Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Everhart Financial Group Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the first quarter, HoldingsChannel.com reports. The firm owned 34,005 shares of the information services provider’s stock after purchasing an additional 1,276 shares during the quarter. Alphabet comprises about 0.7% of Everhart Financial Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Everhart Financial Group Inc.’s holdings in Alphabet were worth $5,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Macroview Investment Management LLC boosted its stake in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares during the period. Addison Advisors LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its stake in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after purchasing an additional 54 shares during the period. Finally, Perritt Capital Management Inc boosted its stake in shares of Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after purchasing an additional 58 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOOGL shares. Wells Fargo & Company lifted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Westpark Capital reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, Truist Financial decreased their price objective on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Trading Down 0.6%

NASDAQ GOOGL opened at $174.67 on Friday. The firm has a market cap of $2.12 trillion, a PE ratio of 21.70, a price-to-earnings-growth 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. The company has a 50 day moving average price of $162.89 and a 200 day moving average price of $174.64.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate 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 earned $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,570 shares of company stock valued at $32,003,532. 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.