Michels Family Financial LLC Invests $825,000 in Alphabet Inc. (NASDAQ:GOOGL)

Michels Family Financial LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,356 shares of the information services provider's stock, valued at approximately $825,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at $24,383,677,000. FMR LLC grew its position in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Capital Research Global Investors lifted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.1%

Shares of Alphabet stock traded up $0.14 during trading hours on Wednesday, hitting $173.04. The company had a trading volume of 17,636,621 shares, compared to its average volume of 29,735,032. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company's 50-day moving average is $158.87 and its two-hundred day moving average is $174.75. The company has a market cap of $2.10 trillion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio is 9.36%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% 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, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock worth $26,793,380 in the last quarter. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOGL. DA Davidson reduced their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

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.