LGT Financial Advisors LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

LGT Financial Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 217.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,213 shares of the information services provider's stock after acquiring an additional 2,200 shares during the quarter. Alphabet makes up about 1.3% of LGT Financial Advisors LLC's investment portfolio, making the stock its 17th biggest position. LGT Financial Advisors LLC's holdings in Alphabet were worth $608,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp increased its holdings 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 worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Navigoe LLC bought a new stake in shares of Alphabet in the 4th quarter worth about $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Citigroup boosted their price objective on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, KeyCorp upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $199.46.

Alphabet Stock Up 1.7 %

Alphabet stock traded up $2.73 during mid-day trading on Friday, reaching $164.03. 25,689,744 shares of the company were exchanged, compared to its average volume of 28,219,299. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a fifty day moving average of $160.19 and a 200 day moving average of $175.34. The firm has a market cap of $1.99 trillion, a P/E ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares of the company's stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,164 shares of company stock worth $25,357,390 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

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.