Brucke Financial Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,001 shares of the information services provider's stock, valued at approximately $3,061,000. Alphabet accounts for about 2.7% of Brucke Financial Inc.'s investment portfolio, making the stock its 9th biggest holding.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Wealth Group Ltd. increased its position in Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC raised 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 purchasing an additional 1,119 shares in the last quarter. Aspiriant LLC raised its holdings in Alphabet by 1.4% in the 4th quarter. Aspiriant LLC now owns 80,473 shares of the information services provider's stock worth $15,233,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Solidarity Wealth LLC lifted its position in shares of Alphabet by 3.5% in the 4th quarter. Solidarity Wealth LLC now owns 104,013 shares of the information services provider's stock worth $19,690,000 after purchasing an additional 3,516 shares during the period. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on GOOGL shares. Truist Financial reduced their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Citigroup lifted their price objective on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Morgan Stanley decreased their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities restated a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Up 2.6%
GOOGL stock traded up $4.43 during midday trading on Tuesday, hitting $172.90. The company's stock had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The firm's 50-day moving average is $158.67 and its 200-day moving average is $174.76. The company has a current ratio of 1.84, a quick ratio of 1.84 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 company has a market cap of $2.10 trillion, a PE ratio of 21.48, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the business earned $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's payout ratio is 9.36%.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of Alphabet 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 of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,654 shares of company stock valued at $26,793,380. 11.64% of the stock is owned by insiders.
Alphabet Company Profile
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Free Report)
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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