Lorne Steinberg Wealth Management Inc. Has $8.58 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Lorne Steinberg Wealth Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,447 shares of the information services provider’s stock after buying an additional 258 shares during the period. Alphabet comprises 2.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 4th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Alphabet were worth $8,584,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Aire Advisors LLC boosted its stake in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC boosted its stake in Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after acquiring an additional 71 shares during the last quarter. WealthCare Investment Partners LLC boosted its stake in Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after acquiring an additional 71 shares during the last quarter. Peoples Financial Services CORP. boosted its stake in Alphabet by 0.4% in the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after acquiring an additional 72 shares during the last quarter. Finally, RAM Investment Partners LLC boosted its stake in Alphabet by 1.0% in the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. Wedbush raised their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Argus raised their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday. Rosenblatt Securities raised their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Stock Up 0.7 %

Shares of GOOGL stock 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. Alphabet Inc. has a 1 year low of $103.71 and a 1 year high of $174.71. The firm’s fifty day moving average price is $149.22 and its two-hundred day moving average price is $141.95. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the business earned $1.17 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.49 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last ninety days. Insiders own 0.88% 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.