Lake Street Private Wealth LLC Has $5.93 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lake Street Private Wealth LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,331 shares of the information services provider's stock after acquiring an additional 2,063 shares during the quarter. Alphabet comprises approximately 1.0% of Lake Street Private Wealth LLC's holdings, making the stock its 25th biggest holding. Lake Street Private Wealth LLC's holdings in Alphabet were worth $5,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Norges Bank acquired a new position in Alphabet in the 4th quarter worth $24,383,677,000. FMR LLC lifted its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its holdings in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 195,770 shares of company stock valued at $32,036,638. Company insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

NASDAQ GOOGL traded up $5.47 on Friday, hitting $173.68. The stock had a trading volume of 35,701,262 shares, compared to its average volume of 30,204,442. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. The company's 50-day moving average is $160.14 and its two-hundred day moving average is $174.38.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results 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. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. 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 dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

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.