Wellington Wealth Strategies LLC. Has $4.51 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Wellington Wealth Strategies LLC. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,047 shares of the information services provider's stock after purchasing an additional 5,123 shares during the period. Alphabet comprises about 4.3% of Wellington Wealth Strategies LLC.'s holdings, making the stock its 5th largest holding. Wellington Wealth Strategies LLC.'s holdings in Alphabet were worth $4,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new stake in Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC lifted its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the period. Capital Research Global Investors increased its holdings in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Wells Fargo & Company lifted their price objective on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,744 shares of company stock valued at $20,968,366 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $166.54 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $158.20 and its 200-day moving average price is $175.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.02 trillion, a P/E ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis 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.

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