Alpine Bank Wealth Management Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Alpine Bank Wealth Management purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,545 shares of the information services provider's stock, valued at approximately $1,321,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Macroview Investment Management LLC increased its position in shares of Alphabet by 4.2% during the 4th 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. Addison Advisors LLC increased its position in shares of Alphabet by 0.7% during the 4th 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 increased its position in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the last quarter. Perritt Capital Management Inc increased its position in shares of Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the last quarter. Finally, Nia Impact Advisors LLC increased its position in shares of Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,195 shares of company stock valued at $35,764,898. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 2.9%

Shares of NASDAQ GOOGL opened at $178.53 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business's 50 day moving average price is $166.45 and its 200-day moving average price is $174.26. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the business posted $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced 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 0.47%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. Stifel Nicolaus reduced their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Bank of America raised their price target on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.95.

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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