BigSur Wealth Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

BigSur Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,326 shares of the information services provider's stock after purchasing an additional 2,226 shares during the quarter. Alphabet comprises 1.5% of BigSur Wealth Management LLC's portfolio, making the stock its 14th biggest holding. BigSur Wealth Management LLC's holdings in Alphabet were worth $5,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Compass Planning Associates Inc acquired a new stake in Alphabet during the fourth quarter worth about $30,000. PayPay Securities Corp grew its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in Alphabet during the fourth quarter worth about $49,000. Navigoe LLC acquired a new stake in Alphabet during the fourth quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the fourth quarter worth about $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on GOOGL shares. Piper Sandler raised their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Wells Fargo & Company raised their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Down 0.6%

Shares of NASDAQ GOOGL traded down $1.03 during mid-day trading on Friday, reaching $174.67. 27,636,835 shares of the company's stock traded hands, compared to its average volume of 30,440,616. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day simple moving average of $162.89 and a 200 day simple moving average of $174.64. Alphabet Inc. has a 1-year low of $140.53 and a 1-year 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is currently 9.36%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 673 shares of the company'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 transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 11.64% of the company's stock.

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.