Earned Wealth Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 136.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,692 shares of the information services provider's stock after acquiring an additional 17,714 shares during the period. Earned Wealth Advisors LLC's holdings in Alphabet were worth $9,607,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new stake in Alphabet in the third quarter worth $416,217,000. Sovran Advisors LLC increased its position in Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after acquiring an additional 4,241 shares during the last quarter. Wright Investors Service Inc. increased its position in Alphabet by 21.2% during the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock valued at $12,171,000 after acquiring an additional 8,746 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Alphabet by 3.8% in the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after acquiring an additional 60,831 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in shares of Alphabet by 5.4% in the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock valued at $17,652,000 after acquiring an additional 3,740 shares during the period. Institutional investors own 40.03% of the company's stock.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the firm's stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 191,053 shares of company stock worth $58,845,206 over the last ninety days. Company insiders own 11.61% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL opened at $383.25 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.64 trillion, a PE ratio of 29.23, a P/E/G ratio of 1.80 and a beta of 1.26. Alphabet Inc. has a 12 month low of $147.84 and a 12 month high of $387.38. The stock has a fifty day moving average price of $313.72 and a 200-day moving average price of $308.70.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Equities research analysts predict that Alphabet Inc. will post 12.94 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.41%.
Analyst Ratings Changes
Several analysts have issued reports on GOOGL shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research note on Tuesday, April 28th. Arete Research raised their price target on Alphabet from $380.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Evercore boosted their price objective on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Canaccord Genuity Group upped their price objective on Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Roth Mkm reiterated a "buy" rating on shares of Alphabet in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $402.96.
Read Our Latest Research Report on GOOGL
Alphabet Company Profile
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Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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