Lynch Asset Management Inc. Buys 250 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lynch Asset Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,000 shares of the information services provider’s stock after acquiring an additional 250 shares during the quarter. Alphabet makes up approximately 4.9% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Lynch Asset Management Inc.’s holdings in Alphabet were worth $10,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. PayPay Securities Corp boosted its stake in shares of 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 acquiring an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $49,000. Navigoe LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock valued at $32,003,532 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOGL shares. Piper Sandler lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Price Performance

Shares of GOOGL opened at $174.67 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50-day simple moving average of $162.89 and a two-hundred day simple moving average of $174.64. 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 stock has a market cap of $2.12 trillion, a PE ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

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.