Wilkins Miller Wealth Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,178 shares of the information services provider's stock, valued at approximately $791,000. Alphabet comprises approximately 0.8% of Wilkins Miller Wealth Management LLC's holdings, making the stock its 27th biggest position.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Bennett Selby Investments LP raised its position in shares of Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC raised its position in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Addison Advisors LLC raised its position in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares in the last quarter. Finally, Burt Wealth Advisors raised its position in shares of Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded down $0.54 on Wednesday, hitting $172.36. The company's stock had a trading volume of 34,438,063 shares, compared to its average volume of 29,799,500. 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 $2.09 trillion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock's 50-day moving average is $158.87 and its two-hundred day moving average is $174.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current 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 represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.
Insider Activity
In other Alphabet news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 approximately $2,606,213.28. The trade was a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 over the last three months. Insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus lowered their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group lowered 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. Piper Sandler boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Ten investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.
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About Alphabet
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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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