Global Assets Advisory LLC Purchases 36,374 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Global Assets Advisory LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 244.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,268 shares of the information services provider's stock after buying an additional 36,374 shares during the quarter. Alphabet comprises about 1.5% of Global Assets Advisory LLC's portfolio, making the stock its 14th largest position. Global Assets Advisory LLC's holdings in Alphabet were worth $7,866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter worth $30,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $49,000. Navigoe LLC bought a new stake in Alphabet during the 4th quarter worth $51,000. Prudent Man Investment Management Inc. bought a new stake in Alphabet during the 4th quarter worth $53,000. Finally, Campbell Capital Management Inc. acquired a new position in Alphabet in the 4th quarter worth about $57,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Susquehanna dropped their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Mizuho dropped their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $199.95.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,195 shares of company stock valued at $35,764,898. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $178.53 on Monday. The business's fifty day moving average is $166.45 and its 200 day moving average is $174.26. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. 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 stock has a market cap of $2.17 trillion, a P/E ratio of 19.90, a P/E/G ratio of 1.26 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 (EPS) 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 net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the company earned $1.89 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

About Alphabet

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.

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