Burling Wealth Partners LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Burling Wealth Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,120 shares of the information services provider’s stock, valued at approximately $14,788,000. Alphabet comprises approximately 3.0% of Burling Wealth Partners LLC’s holdings, making the stock its 7th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth approximately $39,000. PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Prudent Man Investment Management Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

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

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Alphabet in a report on Wednesday, April 16th. Piper Sandler reduced their price objective on Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.64.

Alphabet Price Performance

GOOGL stock opened at $155.65 on Thursday. The company has a fifty day simple moving average of $163.13 and a two-hundred day simple moving average of $175.47. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.