Detalus Advisors LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Detalus Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,541 shares of the information services provider's stock after purchasing an additional 1,729 shares during the period. Detalus Advisors LLC's holdings in Alphabet were worth $1,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Arbor Capital Management Inc. ADV boosted its holdings in Alphabet by 3.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 11,452 shares of the information services provider's stock worth $1,787,000 after buying an additional 415 shares during the period. Oregon Pacific Wealth Management LLC boosted its holdings in Alphabet by 7.5% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 5,093 shares of the information services provider's stock worth $788,000 after buying an additional 354 shares during the period. Harbour Trust & Investment Management Co boosted its holdings in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares during the period. Alterna Wealth Management Inc. boosted its holdings in Alphabet by 15.3% in the 1st quarter. Alterna Wealth Management Inc. now owns 7,655 shares of the information services provider's stock worth $1,184,000 after buying an additional 1,018 shares during the period. Finally, Yukon Wealth Management Inc. bought a new position in Alphabet in the 1st quarter worth approximately $1,676,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.3%

Shares of GOOGL stock traded down $0.59 during mid-day trading on Thursday, reaching $176.03. The stock had a trading volume of 10,160,682 shares, compared to its average volume of 31,709,867. The stock's 50-day moving average price is $169.67 and its two-hundred day moving average price is $173.69. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market capitalization of $2.14 trillion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

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 analysts' consensus estimates 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 analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. DA Davidson cut their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Truist Financial reissued a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Sanford C. Bernstein raised their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Finally, Susquehanna cut their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $200.13.

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.