Faithward Advisors LLC Buys 700 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Faithward Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 34.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,740 shares of the information services provider’s stock after buying an additional 700 shares during the quarter. Faithward Advisors LLC’s holdings in Alphabet were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at approximately $24,383,677,000. Wellington Management Group LLP lifted its holdings in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.2 %

Shares of NASDAQ GOOGL opened at $159.07 on Tuesday. The company has a market cap of $1.94 trillion, a PE ratio of 19.76, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50 day moving average price is $167.87 and its 200-day moving average price is $176.28. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Piper Sandler lowered their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. DA Davidson reduced their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.49.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,497 shares of company stock worth $20,837,150 in the last ninety days. 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.