Concurrent Investment Advisors LLC Purchases 38,641 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Concurrent Investment Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,611 shares of the information services provider's stock after purchasing an additional 38,641 shares during the period. Alphabet accounts for approximately 0.8% of Concurrent Investment Advisors LLC's investment portfolio, making the stock its 17th biggest holding. Concurrent Investment Advisors LLC's holdings in Alphabet were worth $32,414,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. FMR LLC grew its position in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Mizuho reduced their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $199.61.

Alphabet Trading Up 1.4%

Shares of GOOGL stock traded up $2.57 during mid-day trading on Friday, hitting $180.19. The company's stock had a trading volume of 34,243,157 shares, compared to its average volume of 31,878,935. The company's fifty day simple moving average is $170.32 and its 200-day simple moving average is $173.46. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. 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 company has a market cap of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00.

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 for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Alphabet 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.