Mascagni Wealth Management Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Mascagni Wealth Management Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,373 shares of the information services provider's stock, valued at approximately $449,000.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Prostatis Group LLC raised its position in shares of Alphabet by 21.5% in the 4th quarter. Prostatis Group LLC now owns 9,361 shares of the information services provider's stock valued at $1,772,000 after purchasing an additional 1,654 shares during the last quarter. M1 Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $838,000. DSG Capital Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $18,398,000. Chancellor Financial Group WB LP purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $2,961,000. Finally, 111 Capital purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $3,599,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock traded down $2.13 during trading hours on Friday, hitting $169.73. The stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,949,599. The company has a 50-day moving average of $159.10 and a two-hundred day moving average of $174.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.06 trillion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the company earned $1.89 EPS. On average, equities research analysts anticipate 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Sanford C. Bernstein raised their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business'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 completion of the transaction, the director now directly owns 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,533 shares of company stock valued at $26,772,774. 11.55% of the stock is owned by insiders.

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.