New Insight Wealth Advisors Purchases 2,868 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Insight Wealth Advisors grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,588 shares of the information services provider's stock after purchasing an additional 2,868 shares during the quarter. Alphabet makes up approximately 1.4% of New Insight Wealth Advisors' portfolio, making the stock its 20th biggest position. New Insight Wealth Advisors' holdings in Alphabet were worth $3,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOGL. Wealth Group Ltd. increased its position in 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 purchasing an additional 78 shares during the last quarter. Eagle Capital Management LLC increased its position in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC boosted its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its holdings in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOGL shares. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Wells Fargo & Company raised their target price on shares of Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. UBS Group set a $195.00 target price on Alphabet in a research note on Friday, April 25th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. Finally, Truist Financial reissued a "buy" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.82.

Alphabet Trading Up 0.2%

Shares of NASDAQ GOOGL traded up $0.44 during midday trading on Tuesday, hitting $182.00. 33,367,020 shares of the company traded hands, compared to its average volume of 31,923,447. The stock has a 50-day moving average price of $170.66 and a 200 day moving average price of $173.07. The firm has a market cap of $2.21 trillion, a P/E ratio of 20.29, a P/E/G ratio of 1.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS 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 firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,443 shares of company stock worth $36,298,548. Company insiders own 11.55% of the company's stock.

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.