Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Alphabet Inc. by 55.2% during Q1, now holding shares valued at $59.82 million.
• The company recently announced a quarterly dividend of $0.21 per share, with a total annualized dividend yield of 0.4%.
• Several analysts upgraded their ratings on Alphabet, with price targets ranging from $201 to $225, indicating a consensus rating of "Moderate Buy".

HB Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 55.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,802 shares of the information services provider's stock after buying an additional 137,570 shares during the period. HB Wealth Management LLC's holdings in Alphabet were worth $59,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its holdings 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 purchasing an additional 371 shares during the last quarter. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the period. Highview Capital Management LLC DE raised its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC increased its stake in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after purchasing an additional 13,564 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock valued at $43,525,794 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 3.1%

NASDAQ GOOGL traded up $5.91 on Monday, hitting $195.04. 31,493,654 shares of the stock were exchanged, compared to its average volume of 37,132,445. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a 50-day moving average price of $178.32 and a 200-day moving average price of $172.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.36 trillion, a PE ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Needham & Company LLC raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Barclays increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $211.39.

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.