Keyvantage Wealth LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Keyvantage Wealth LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,383 shares of the information services provider's stock, valued at approximately $830,000.

Other hedge funds have also recently bought and sold shares of the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Alphabet by 518.8% during the 4th 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 period. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $2.73 during trading hours on Monday, hitting $159.23. 17,556,035 shares of the stock were exchanged, compared to its average volume of 33,291,438. 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 Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $1.94 trillion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company's fifty day simple moving average is $162.18 and its two-hundred day simple moving average is $175.62.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the business posted $1.89 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.53%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group raised their target price on shares of Alphabet from $173.00 to $186.00 and gave the stock a "neutral" rating in a report on Friday. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday. Westpark Capital upgraded shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Truist Financial cut their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the sale, the chief executive officer now owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is currently owned by insiders.

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.