Parisi Gray Wealth Management Buys 3,061 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Parisi Gray Wealth Management raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,122 shares of the information services provider's stock after acquiring an additional 3,061 shares during the quarter. Alphabet comprises 1.9% of Parisi Gray Wealth Management's investment portfolio, making the stock its 15th biggest holding. Parisi Gray Wealth Management's holdings in Alphabet were worth $5,895,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $24,383,677,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded down $1.03 on Friday, reaching $174.67. 27,636,835 shares of the company traded hands, compared to its average volume of 30,391,072. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a 50 day moving average of $162.29 and a 200 day moving average of $174.57. The firm has a market capitalization of $2.12 trillion, a PE ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Susquehanna dropped their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial dropped their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, UBS Group set a $195.00 price objective on shares of Alphabet in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $199.75.

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.