Revisor Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Revisor Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 95.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,750 shares of the information services provider's stock after purchasing an additional 4,265 shares during the quarter. Revisor Wealth Management LLC's holdings in Alphabet were worth $1,353,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Harbour Trust & Investment Management Co increased its holdings in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC grew its holdings in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Optivise Advisory Services LLC grew its holdings in 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 buying an additional 403 shares in the last quarter. Finally, Community Bank N.A. grew its holdings in 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 buying an additional 2,790 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna decreased their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Citigroup reiterated a "buy" rating and set a $203.00 price target (up previously from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley cut their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.61.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value 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. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 1.4%

Shares of GOOGL stock traded up $2.57 during mid-day trading on Friday, reaching $180.19. 34,129,675 shares of the company's stock traded hands, compared to its average volume of 31,853,810. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.24 and a beta of 1.00. The company's 50-day moving average price is $169.99 and its 200-day moving average price is $173.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is presently 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.