Lansing Street Advisors Purchases 1,583 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lansing Street Advisors lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,358 shares of the information services provider's stock after purchasing an additional 1,583 shares during the quarter. Lansing Street Advisors' holdings in Alphabet were worth $1,602,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. Navigoe LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $51,000. Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $53,000. Campbell Capital Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $57,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $49,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOGL shares. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wells Fargo & Company upped their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Finally, UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated 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 represents a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $176.79 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock's fifty day moving average price is $169.03 and its 200 day moving average price is $173.67. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the firm earned $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current 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 given 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 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.

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