MJP Associates Inc. ADV Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MJP Associates Inc. ADV grew its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 39.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,465 shares of the information services provider’s stock after purchasing an additional 6,315 shares during the period. Alphabet accounts for 0.7% of MJP Associates Inc. ADV’s holdings, making the stock its 22nd largest position. MJP Associates Inc. ADV’s holdings in Alphabet were worth $3,391,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP boosted its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Armor Investment Advisors LLC boosted its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC boosted its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GOOGL shares. Truist Financial increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Citigroup raised their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Jefferies Financial Group raised their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

View Our Latest Research Report on Alphabet

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $179.63 on Friday. The company’s fifty day moving average price is $170.05 and its 200 day moving average price is $152.56. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the sale, the insider now owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,958 shares of company stock valued at $22,383,553. Insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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