Dover Advisors LLC Purchases 8,231 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Dover Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,178 shares of the information services provider's stock after purchasing an additional 8,231 shares during the quarter. Alphabet comprises 2.2% of Dover Advisors LLC's portfolio, making the stock its 6th largest holding. Dover Advisors LLC's holdings in Alphabet were worth $5,131,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wealth Group Ltd. boosted its stake in Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC boosted its position in shares of Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC boosted its position in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Alphabet during the fourth quarter valued at $154,716,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Susquehanna lowered their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Mizuho dropped their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Finally, Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Ten investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $2.10 during trading on Monday, reaching $176.77. The stock had a trading volume of 27,312,231 shares, compared to its average volume of 30,428,122. The stock has a market capitalization of $2.15 trillion, a PE ratio of 21.96, a P/E/G 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 Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The business's 50-day moving average price is $162.89 and its 200 day moving average price is $174.68.

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. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the firm posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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 issued a dividend of $0.21 per share. 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 a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 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.