Roffman Miller Associates Inc. PA Acquires 7,767 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Roffman Miller Associates Inc. PA raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,871 shares of the information services provider's stock after buying an additional 7,767 shares during the period. Alphabet makes up approximately 4.0% of Roffman Miller Associates Inc. PA's portfolio, making the stock its 3rd largest position. Roffman Miller Associates Inc. PA's holdings in Alphabet were worth $64,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Burt Wealth Advisors lifted its position in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after acquiring an additional 54 shares during the period. Perritt Capital Management Inc raised its position in shares of Alphabet by 10.4% during 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 last quarter. Nia Impact Advisors LLC raised its position in shares of Alphabet by 0.3% during 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 last quarter. Hanlon Investment Management Inc. raised its position in shares of Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth raised its position in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 1.4%

NASDAQ:GOOGL traded up $2.57 on Friday, reaching $180.19. The stock had a trading volume of 34,243,157 shares, compared to its average volume of 31,915,001. 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 50-day moving average of $170.32 and a 200 day moving average of $173.31. The stock has a market cap of $2.19 trillion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month 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, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations 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 prior year, the company posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. 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 yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 in the last ninety days. Insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Morgan Stanley cut their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Citigroup restated a "buy" rating and set a $203.00 price objective (up from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Piper Sandler lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.61.

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.