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Pure Financial Advisors LLC Purchases 3,884 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Alphabet logo with Computer and Technology background

Pure Financial Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,423 shares of the information services provider's stock after buying an additional 3,884 shares during the quarter. Pure Financial Advisors LLC's holdings in Alphabet were worth $3,777,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Rockbridge Capital Management LLC bought a new position in Alphabet during the 4th quarter worth $3,119,000. Optivise Advisory Services LLC raised its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. raised its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its holdings in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC increased its position in Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after purchasing an additional 258 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business'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 $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction 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 transaction, the director owned 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,143 shares of company stock worth $30,529,028 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOGL shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Wednesday, June 25th. Morgan Stanley dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Susquehanna decreased their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $199.95.

View Our Latest Research Report on Alphabet

Alphabet Trading Up 0.3%

NASDAQ:GOOGL traded up $0.57 during midday trading on Thursday, reaching $179.21. 21,566,896 shares of the stock traded hands, compared to its average volume of 31,462,415. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 19.98, a PEG ratio of 1.24 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. The company has a fifty day moving average of $167.96 and a 200 day moving average of $174.20. 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 earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the firm earned $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

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

Alphabet Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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