Destiny Wealth Partners LLC Acquires 2,078 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Destiny Wealth Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,073 shares of the information services provider's stock after buying an additional 2,078 shares during the quarter. Destiny Wealth Partners LLC's holdings in Alphabet were worth $6,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. PayPay Securities Corp raised its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $49,000. Navigoe LLC purchased a new position in Alphabet in the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet in the 4th quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.4%

NASDAQ GOOGL traded up $2.51 during trading on Tuesday, hitting $178.60. The company had a trading volume of 60,060,380 shares, compared to its average volume of 30,325,128. The company's fifty day moving average is $160.52 and its 200-day moving average is $174.46. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now directly owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Cantor Fitzgerald cut their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company increased their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Finally, Roth Mkm restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.