Cornerstone Select Advisors LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Cornerstone Select Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,047 shares of the information services provider's stock, valued at approximately $766,000.

Other large investors have also recently modified their holdings of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. grew 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 worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth about $39,000. PayPay Securities Corp raised 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 valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GOOGL shares. Susquehanna lowered their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Piper Sandler increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Citigroup lifted their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Truist Financial cut their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $199.46.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,824 shares of company stock worth $25,086,603. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 0.6 %

Shares of GOOGL stock opened at $163.23 on Wednesday. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 20.28, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm's 50 day moving average is $159.92 and its 200 day moving average is $175.42. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

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

Alphabet Increases Dividend

The firm 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 $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.

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