Consolidated Portfolio Review Corp Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Consolidated Portfolio Review Corp lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,703 shares of the information services provider's stock after purchasing an additional 3,853 shares during the period. Consolidated Portfolio Review Corp's holdings in Alphabet were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in Alphabet in the fourth quarter valued at approximately $30,000. Anderson Financial Strategies LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $49,000. EQ Wealth Advisors LLC bought a new stake in Alphabet in the first quarter valued at approximately $49,000. Navigoe LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock worth $35,764,898 in the last ninety days. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Roth Mkm reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Wednesday. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a report on Friday. Finally, Sanford C. Bernstein increased their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.95.

Alphabet Stock Up 2.9%

NASDAQ:GOOGL traded up $4.99 during trading hours on Friday, hitting $178.53. 107,974,317 shares of the company traded hands, compared to its average volume of 31,246,814. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $166.45 and its 200-day simple moving average is $174.38. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.17 trillion, a PE ratio of 19.90, a PEG ratio of 1.14 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the business earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 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.