Primoris Wealth Advisors LLC Buys 1,050 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Primoris Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 36.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,935 shares of the information services provider’s stock after acquiring an additional 1,050 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in Alphabet were worth $745,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Community Bank N.A. grew its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd lifted its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares during the period. Absolute Capital Management LLC boosted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares in the last quarter. Permanent Capital Management LP acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $273,000. Finally, Glass Wealth Management Co LLC increased its stake in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Thursday, April 10th. KeyCorp dropped their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Westpark Capital upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, April 1st. Ten 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 MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $202.46.

Alphabet Stock Down 1.9 %

Alphabet stock opened at $153.33 on Thursday. 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 company has a market capitalization of $1.87 trillion, a PE ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.03. The firm’s fifty day moving average is $166.53 and its 200 day moving average is $175.98. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, 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 have sold a total of 115,663 shares of company stock worth $20,286,447 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.