Concentrum Wealth Management Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Concentrum Wealth Management raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,525 shares of the information services provider’s stock after purchasing an additional 316 shares during the period. Concentrum Wealth Management’s holdings in Alphabet were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new position in Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% in 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 purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp raised its stake 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 worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC lifted its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 2.8 %

GOOGL stock opened at $157.14 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.34 and a beta of 1.03. 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 has a fifty day simple moving average of $168.52 and a 200-day simple moving average of $176.31.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Wolfe Research lifted their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group set a $190.00 price target on Alphabet in a research note on Thursday, March 27th. Ten research 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. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $206.51.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,297 shares of company stock valued at $20,804,770 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.