Chokshi & Queen Wealth Advisors Inc acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,942 shares of the information services provider's stock, valued at approximately $2,274,000. Alphabet comprises 1.4% of Chokshi & Queen Wealth Advisors Inc's investment portfolio, making the stock its 14th largest holding.
Other large investors have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC lifted its position in shares of Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after purchasing an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC boosted its stake in Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after purchasing an additional 380 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Alphabet by 24.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,539,691 shares of the information services provider's stock valued at $483,659,000 after acquiring an additional 506,187 shares in the last quarter. AFG Fiduciary Services Limited Partnership bought a new position in Alphabet in the 4th quarter valued at $220,000. Finally, XML Financial LLC increased its position in Alphabet by 7.4% in the fourth quarter. XML Financial LLC now owns 20,665 shares of the information services provider's stock worth $3,936,000 after purchasing an additional 1,427 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GOOG. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Benchmark reiterated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Wedbush restated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $203.94.
Check Out Our Latest Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This represents a 8.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,654 shares of company stock worth $26,793,380. Insiders own 12.99% of the company's stock.
Alphabet Stock Up 2.6%
GOOG stock traded up $4.39 during trading hours on Tuesday, reaching $173.98. 24,291,303 shares of the stock were exchanged, compared to its average volume of 20,134,876. The firm's 50-day moving average is $160.54 and its 200-day moving average is $176.49. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.61, 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:GOOG - 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. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
About Alphabet
(
Free Report)
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
