KMG Fiduciary Partners LLC Acquires 7,190 Shares of Alphabet Inc. (NASDAQ:GOOGL)

KMG Fiduciary Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,056 shares of the information services provider's stock after purchasing an additional 7,190 shares during the period. Alphabet makes up approximately 2.4% of KMG Fiduciary Partners LLC's portfolio, making the stock its 8th biggest holding. KMG Fiduciary Partners LLC's holdings in Alphabet were worth $28,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOGL. Wealth Group Ltd. boosted its position in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after buying an additional 78 shares during the period. Capital & Planning LLC increased its stake in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Alphabet in the 4th quarter valued at about $154,716,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock worth $32,036,638 over the last quarter. Corporate insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOGL. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Truist Financial dropped their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Price Performance

Shares of GOOGL stock traded up $3.81 during mid-day trading on Tuesday, hitting $179.90. 23,046,734 shares of the stock traded hands, compared to its average volume of 30,181,786. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company's 50-day simple moving average is $160.52 and its 200-day simple moving average is $174.46. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

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.