1900 Wealth Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

1900 Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,268 shares of the information services provider's stock after acquiring an additional 2,880 shares during the period. 1900 Wealth Management LLC's holdings in Alphabet were worth $1,742,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stillwater Capital Advisors LLC raised its holdings in shares of Alphabet by 0.3% during the 1st quarter. Stillwater Capital Advisors LLC now owns 157,562 shares of the information services provider's stock valued at $24,365,000 after buying an additional 404 shares during the period. Warther Private Wealth LLC grew its position in Alphabet by 27.0% in the first quarter. Warther Private Wealth LLC now owns 146,061 shares of the information services provider's stock valued at $22,587,000 after acquiring an additional 31,075 shares in the last quarter. Citadel Investment Advisory Inc. raised its stake in shares of Alphabet by 2.7% during the first quarter. Citadel Investment Advisory Inc. now owns 51,060 shares of the information services provider's stock valued at $7,896,000 after purchasing an additional 1,340 shares during the period. Traphagen Investment Advisors LLC lifted its position in shares of Alphabet by 5.3% during the first quarter. Traphagen Investment Advisors LLC now owns 10,860 shares of the information services provider's stock worth $1,679,000 after purchasing an additional 543 shares in the last quarter. Finally, Crane Advisory LLC lifted its position in shares of Alphabet by 5.0% during the first quarter. Crane Advisory LLC now owns 4,662 shares of the information services provider's stock worth $733,000 after purchasing an additional 223 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 firms recently issued reports on GOOGL. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Roth Mkm restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Citigroup upped their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Stock Performance

Shares of GOOGL opened at $175.95 on Wednesday. The firm has a fifty day moving average of $163.88 and a 200-day moving average of $174.74. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. As a group, equities analysts anticipate 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 in the last three months. 11.55% of the stock is currently 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.

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