Weatherly Asset Management L. P. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Weatherly Asset Management L. P. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,193 shares of the information services provider’s stock after acquiring an additional 1,210 shares during the quarter. Alphabet comprises 1.6% of Weatherly Asset Management L. P.’s holdings, making the stock its 17th largest position. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $14,555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meritage Group LP boosted its holdings in 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 boosted its holdings in 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 boosted its holdings in 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 position in Alphabet in the fourth quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in 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.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock valued at $40,382,765 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.86 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $149.22 and its two-hundred day moving average is $141.95. Alphabet Inc. has a 12-month low of $103.71 and a 12-month high of $174.71. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the firm posted $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.49 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Needham & Company LLC lifted their price target on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein lifted their price target on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.60.

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.