4,464 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Richmond Investment Services LLC

Richmond Investment Services LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,464 shares of the information services provider's stock, valued at approximately $845,000.

Other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in Alphabet in the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at about $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. 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 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, 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 164,654 shares of company stock worth $26,793,380 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Tigress Financial upped their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Mizuho dropped their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reduced their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.40 during trading hours on Monday, reaching $168.47. 35,166,008 shares of the company's stock were exchanged, compared to its average volume of 29,747,753. The business has a fifty day moving average of $158.57 and a two-hundred day moving average of $174.83. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. 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 0.50%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

About Alphabet

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.