Adams Asset Advisors LLC Takes $939,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Adams Asset Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,075 shares of the information services provider's stock, valued at approximately $939,000.

Other institutional investors have also made changes to their positions in the company. Macroview Investment Management LLC boosted its position in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after purchasing an additional 52 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares in the last quarter. Burt Wealth Advisors raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc raised its holdings in shares of Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the period. Finally, Nia Impact Advisors LLC raised its holdings in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOGL. Piper Sandler boosted 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. UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. 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. Truist Financial dropped their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,070 shares of company stock worth $37,745,632. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL traded down $6.68 during midday trading on Friday, hitting $166.64. 75,073,701 shares of the company traded hands, compared to its average volume of 30,587,197. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business has a 50 day simple moving average of $164.77 and a two-hundred day simple moving average of $174.73.

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 analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the business posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet's payout ratio is presently 9.36%.

About Alphabet

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.