Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,514 shares of the information services provider’s stock after acquiring an additional 26,877 shares during the quarter. Alphabet accounts for 0.6% of Farther Finance Advisors LLC’s portfolio, making the stock its 26th largest position. Farther Finance Advisors LLC’s holdings in Alphabet were worth $22,542,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Macroview Investment Management LLC lifted its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after acquiring an additional 52 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the last quarter. Addison Advisors LLC lifted its position in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after acquiring an additional 53 shares during the last quarter. Burt Wealth Advisors lifted its position in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after acquiring an additional 54 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its position in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $176.09 on Tuesday. The firm’s fifty day moving average price is $160.52 and its two-hundred day moving average price is $174.46. The stock has a market cap of $2.14 trillion, a PE ratio of 21.87, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOGL shares. Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Mizuho dropped their price target 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, BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet 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.