Spire Wealth Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,343 shares of the information services provider's stock after purchasing an additional 20,356 shares during the period. Alphabet comprises about 1.3% of Spire Wealth Management's holdings, making the stock its 9th biggest holding. Spire Wealth Management's holdings in Alphabet were worth $38,694,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Aire Advisors LLC lifted its position in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider's stock valued at $1,645,000 after purchasing an additional 68 shares during the period. Defined Wealth Management LLC boosted its stake in shares of Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider's stock worth $354,000 after buying an additional 71 shares during the last quarter. WealthCare Investment Partners LLC grew its holdings in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider's stock worth $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. raised its position in Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider's stock valued at $2,331,000 after acquiring an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC boosted its position in Alphabet by 1.0% in the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider's stock worth $1,055,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of analyst reports. KeyCorp upped their price target on Alphabet from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, April 22nd. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "outperform" rating in a research report on Friday, April 26th. Evercore ISI boosted their target price on shares of Alphabet from $160.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, April 26th. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $190.60.
Read Our Latest Stock Analysis on Alphabet
Alphabet Trading Up 0.3 %
NASDAQ GOOGL traded up $0.49 during mid-day trading on Monday, reaching $169.14. 31,300,163 shares of the stock were exchanged, compared to its average volume of 30,438,404. The stock has a market capitalization of $2.09 trillion, a PE ratio of 25.40, a PEG ratio of 1.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $174.71. The business's fifty day simple moving average is $153.32 and its 200 day simple moving average is $143.58.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the company posted $1.17 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Ruth Porat sold 48,077 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company's stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold a total of 251,829 shares of company stock valued at $36,971,456 in the last three months. Corporate insiders own 0.88% of the company's stock.
About Alphabet
(
Free Report)
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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