Robbins Farley Has $2.98 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Robbins Farley raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 19,281 shares of the information services provider’s stock after acquiring an additional 79 shares during the quarter. Robbins Farley’s holdings in Alphabet were worth $2,982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new stake in shares of Alphabet in the 4th quarter valued at $30,000. PayPay Securities Corp boosted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $49,000. Navigoe LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GOOGL shares. Mizuho reduced their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Piper Sandler increased their target price 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. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Ten investment 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’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Alphabet Stock Performance

Shares of GOOGL stock opened at $174.67 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The firm has a 50-day moving average of $162.89 and a 200-day moving average of $174.68. 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 P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 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 company posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a 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 dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company’s stock.

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.