Anchor Pointe Wealth Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Anchor Pointe Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,310 shares of the information services provider's stock, valued at approximately $1,015,000. Alphabet accounts for about 1.3% of Anchor Pointe Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockbridge Capital Management LLC bought a new stake in Alphabet in the fourth quarter valued at about $3,119,000. Optivise Advisory Services LLC increased its stake in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares during the period. Community Bank N.A. increased its stake in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares during the period. Premier Fund Managers Ltd increased its stake in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC increased its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares during the period. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Jefferies Financial Group decreased their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. DA Davidson reduced their target price on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial cut 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. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Stock Down 1.2%

Shares of NASDAQ GOOGL traded down $2.13 during trading on Friday, hitting $169.73. The stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,980,356. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.06 trillion, a PE ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01. The firm has a fifty day moving average of $159.10 and a two-hundred day moving average of $174.59.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company posted $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the firm'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 transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,533 shares of company stock worth $26,772,774 over the last quarter. 11.55% of the stock is currently owned by company insiders.

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.