Westbourne Investments Inc. Acquires Shares of 30,447 Alphabet Inc. (NASDAQ:GOOGL)

Westbourne Investments Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,447 shares of the information services provider's stock, valued at approximately $5,764,000. Alphabet makes up approximately 3.4% of Westbourne Investments Inc.'s holdings, making the stock its 8th biggest holding.

A number of other institutional investors have also made changes to their positions in GOOGL. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $51,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 1.7 %

Shares of NASDAQ:GOOGL traded up $2.73 during midday trading on Friday, hitting $164.03. The stock had a trading volume of 25,689,744 shares, compared to its average volume of 28,219,299. 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 simple moving average is $160.19 and its 200-day simple moving average is $175.34. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market cap of $1.99 trillion, a P/E ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet's dividend payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOGL. Westpark Capital raised Alphabet to a "strong-buy" rating in a research note on Tuesday, April 1st. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald dropped their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.46.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,164 shares of company stock valued at $25,357,390 over the last three months. Insiders own 11.55% of the company's stock.

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.