Boomfish Wealth Group LLC Acquires 90 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Boomfish Wealth Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,210 shares of the information services provider’s stock after acquiring an additional 90 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Alphabet were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GOOGL. Wealth Group Ltd. raised its stake in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after buying an additional 78 shares during the period. Capital & Planning LLC increased its holdings in Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after acquiring an additional 1,119 shares during the last quarter. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after acquiring an additional 371 shares during the period. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Alphabet during the fourth quarter valued at about $154,716,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Westpark Capital reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, Citigroup boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Ten research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $199.75.

Insider Activity

In related news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly 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 valued at $32,003,532. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $173.32 on Friday. The company has a 50-day simple moving average of $164.58 and a two-hundred day simple moving average of $174.75. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.11 and a beta of 1.01.

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, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 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.