Lakeridge Wealth Management LLC Buys 169 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lakeridge Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,109 shares of the information services provider’s stock after purchasing an additional 169 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Alphabet were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Dover Advisors LLC raised its holdings in Alphabet by 33.0% in the 1st quarter. Dover Advisors LLC now owns 33,178 shares of the information services provider’s stock worth $5,131,000 after purchasing an additional 8,231 shares during the period. Robbins Farley increased its stake in Alphabet by 0.4% in the 1st quarter. Robbins Farley now owns 19,281 shares of the information services provider’s stock worth $2,982,000 after buying an additional 79 shares in the last quarter. Viewpoint Investment Partners Corp increased its stake in Alphabet by 112.6% in the 1st quarter. Viewpoint Investment Partners Corp now owns 4,251 shares of the information services provider’s stock worth $657,000 after buying an additional 2,251 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Alphabet by 6.9% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 178,351 shares of the information services provider’s stock worth $27,580,000 after buying an additional 11,516 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Alphabet by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider’s stock worth $387,979,000 after buying an additional 106,082 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 0.6%

Shares of NASDAQ GOOGL opened at $174.67 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.12 trillion, a P/E ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a 50-day simple moving average of $162.89 and a two-hundred day simple moving average of $174.68.

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, topping 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 during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date 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%.

Insider Buying and Selling

In related 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 value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 over the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. cut 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. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Morgan Stanley cut their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.75.

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.