Armis Advisers LLC Purchases Shares of 6,194 Alphabet Inc. (NASDAQ:GOOGL)

Armis Advisers LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,194 shares of the information services provider's stock, valued at approximately $1,173,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of 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 purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% during 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, Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director now directly owns 255,400 shares in the company, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock valued at $26,793,380 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Truist Financial lowered their price objective 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. Susquehanna reduced their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Up 2.6%

NASDAQ GOOGL traded up $4.43 on Tuesday, reaching $172.90. The company had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The company's fifty day moving average is $158.67 and its 200-day moving average is $174.76. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth 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 Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, 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 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 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.