Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Journey Strategic Wealth LLC

Key Points

• Journey Strategic Wealth LLC increased its stake in Alphabet Inc. by 36.1% for a total of 43,435 shares worth approximately $6.7 million.
• Several institutional investors significantly adjusted their positions in Alphabet during Q1, with Guardian Wealth Management raising its stake by 242.9%.
• Wall Street analysts have raised price targets for Alphabet, with an average rating of "Moderate Buy" and a consensus price target of $211.39.

Journey Strategic Wealth LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 43,435 shares of the information services provider's stock after acquiring an additional 11,523 shares during the quarter. Journey Strategic Wealth LLC's holdings in Alphabet were worth $6,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. increased its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co increased its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $3,119,000. Cypress Capital LLC increased its stake in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC increased its stake in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company's 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 sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock worth $43,525,794 over the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Trading Down 1.4%

NASDAQ:GOOGL traded down $2.77 during trading hours on Friday, reaching $189.13. 34,777,882 shares of the stock were exchanged, compared to its average volume of 38,669,572. 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 business has a 50-day moving average of $178.32 and a two-hundred day moving average of $173.12. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Needham & Company LLC boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.39.

Alphabet Company 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.