Resonant Capital Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Resonant Capital Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,952 shares of the information services provider’s stock after buying an additional 1,040 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $2,508,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC grew its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the period. Armor Investment Advisors LLC grew its holdings in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in shares of Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.95 on Friday. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 52 week low of $103.54 and a 52 week high of $174.71. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $147.85 and its two-hundred day moving average is $141.42.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period last year, the firm posted $1.05 earnings per share. Research analysts forecast that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock worth $36,746,578. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Roth Mkm upped their price objective on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday. JMP Securities upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Mizuho upped their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

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.