Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,863 shares of the information services provider's stock after acquiring an additional 1,876 shares during the period. Alphabet comprises about 1.6% of Stockman Wealth Management Inc.'s holdings, making the stock its 22nd largest holding. Stockman Wealth Management Inc.'s holdings in Alphabet were worth $11,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOGL. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares during the last quarter. Addison Advisors LLC lifted its stake in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors lifted its position in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after acquiring an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its position in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after acquiring an additional 58 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.5%

GOOGL opened at $173.32 on Thursday. The business's fifty day simple moving average is $164.17 and its 200 day simple moving average is $174.73. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.10 trillion, a PE ratio of 19.32, a P/E/G ratio of 1.12 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating 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 in the prior year, the business posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOGL shares. Roth Mkm restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, UBS Group set a $195.00 target price on Alphabet 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was 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 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. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last three months. Company insiders own 11.64% of the company's stock.

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.

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