Detalus Advisors LLC Purchases 1,729 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Detalus Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,541 shares of the information services provider's stock after acquiring 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.

Other hedge funds have also recently made changes to their positions in the company. Burt Wealth Advisors increased its holdings in shares of Alphabet by 1.0% in the fourth 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 increased its holdings in shares of Alphabet by 10.4% in the fourth 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. Nia Impact Advisors LLC increased its holdings in shares of Alphabet by 0.3% in the fourth 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. Hanlon Investment Management Inc. increased its holdings in shares of Alphabet by 1.7% in the fourth 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 period. Finally, Enzi Wealth increased its holdings in shares of Alphabet by 2.5% in the first 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 period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Stifel Nicolaus reduced their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Finally, Truist Financial reissued a "buy" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Ten 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.61.

Alphabet Stock Up 1.4%

GOOGL traded up $2.57 on Friday, hitting $180.19. The company had a trading volume of 34,129,675 shares, compared to its average volume of 31,853,810. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a fifty day simple moving average of $169.99 and a 200-day simple moving average of $173.57. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.24 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock worth $36,330,928 over the last three months. Company insiders own 11.64% of the company's stock.

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.