GenTrust LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

GenTrust LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,513 shares of the information services provider's stock after buying an additional 1,692 shares during the quarter. GenTrust LLC's holdings in Alphabet were worth $1,007,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Addison Advisors LLC boosted its holdings in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares in the last quarter. Burt Wealth Advisors increased its holdings in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares in the last quarter. Perritt Capital Management Inc raised its position in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the last quarter. Nia Impact Advisors LLC boosted its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares in the last quarter. Finally, Hanlon Investment Management Inc. grew its holdings in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 1.6%

Shares of NASDAQ GOOGL traded up $2.80 during mid-day trading on Wednesday, reaching $178.64. 29,091,179 shares of the company's stock traded hands, compared to its average volume of 31,445,572. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.92, a PEG ratio of 1.24 and a beta of 1.00. The business has a 50-day simple moving average of $167.50 and a 200 day simple moving average of $174.17.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research note on Friday, June 27th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Bank of America increased their price objective on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $203.00 target price (up from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.95.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,143 shares of company stock worth $30,529,028. Corporate insiders own 11.55% of the company's stock.

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.