Transform Wealth LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Transform Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,577 shares of the information services provider's stock after acquiring an additional 1,860 shares during the period. Alphabet accounts for about 1.4% of Transform Wealth LLC's holdings, making the stock its 12th biggest position. Transform Wealth LLC's holdings in Alphabet were worth $23,285,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new stake in Alphabet in the 4th quarter worth about $3,119,000. Optivise Advisory Services LLC increased 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 valued at $1,035,000 after buying an additional 403 shares during the period. Community Bank N.A. increased 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 valued at $8,741,000 after buying an additional 2,790 shares during the period. Premier Fund Managers Ltd increased its position in shares of Alphabet by 30.0% during 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 buying an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC increased its position in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after buying an additional 258 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.9%

Shares of NASDAQ:GOOGL traded down $1.65 during trading on Thursday, hitting $175.70. The stock had a trading volume of 20,879,613 shares, compared to its average volume of 30,364,105. 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 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $2.13 trillion, a PE ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.01. The firm's fifty day moving average is $161.71 and its 200 day moving average is $174.51.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company's stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Roth Mkm reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Truist Financial decreased their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.