Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,999 shares of the information services provider’s stock after acquiring an additional 95 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Alphabet were worth $6,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Macroview Investment Management LLC increased its position in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares during the period. Cornerstone Planning Group LLC increased its holdings in Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after buying an additional 53 shares during the period. Addison Advisors LLC raised its stake in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after buying an additional 53 shares in the last quarter. Burt Wealth Advisors lifted its holdings 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 acquiring an additional 54 shares during the period. Finally, Perritt Capital Management Inc boosted its position 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 valued at $117,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus decreased their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Ten 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. 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 quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $173.32 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.10 trillion, a PE ratio of 19.32, a P/E/G ratio of 1.11 and a beta of 1.01. The business’s 50-day moving average price is $164.58 and its two-hundred day moving average price is $174.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. As a group, research analysts forecast 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

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.