Firethorn Wealth Partners LLC Has $1.86 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Firethorn Wealth Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,007 shares of the information services provider's stock after acquiring an additional 1,732 shares during the quarter. Alphabet accounts for approximately 0.9% of Firethorn Wealth Partners LLC's holdings, making the stock its 27th largest position. Firethorn Wealth Partners LLC's holdings in Alphabet were worth $1,857,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Compass Planning Associates Inc bought a new position in Alphabet during the 4th quarter worth $30,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp grew its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter worth about $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet in the 4th quarter worth about $51,000. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GOOGL shares. Cantor Fitzgerald reduced their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company increased their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Stifel Nicolaus dropped their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Tigress Financial upped their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Stock Performance

Alphabet stock traded up $0.16 during trading hours on Thursday, reaching $168.21. 34,550,448 shares of the company were exchanged, compared to its average volume of 30,080,243. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $159.54 and a 200 day moving average of $174.43. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results 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. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the business posted $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, 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 sold a total of 195,770 shares of company stock worth $32,036,638 over the last three months. 11.64% of the stock is currently owned by insiders.

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.