Joel Isaacson & Co. LLC Has $74.09 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Joel Isaacson & Co. LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 479,103 shares of the information services provider's stock after acquiring an additional 1,537 shares during the quarter. Alphabet accounts for approximately 3.4% of Joel Isaacson & Co. LLC's portfolio, making the stock its 8th largest holding. Joel Isaacson & Co. LLC's holdings in Alphabet were worth $74,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at about $49,000. Navigoe LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $51,000. Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at about $53,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at about $57,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOGL shares. UBS Group set a $195.00 target price on shares of Alphabet in a report on Friday, April 25th. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Roth Mkm reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL traded up $0.44 on Friday, reaching $179.08. 21,689,729 shares of the company's stock traded hands, compared to its average volume of 31,547,766. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The business's 50 day simple moving average is $168.70 and its two-hundred day simple moving average is $173.97. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its 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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 over the last 90 days. Corporate insiders own 11.64% 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.