Private Wealth Management Group LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Private Wealth Management Group LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,961 shares of the information services provider’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $2,776,000. Montrusco Bolton Investments Inc. raised its stake in shares of Alphabet by 12.4% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 2,762,048 shares of the information services provider’s stock worth $377,010,000 after acquiring an additional 304,819 shares in the last quarter. Taylor Hoffman Wealth Management lifted its position in Alphabet by 3.1% during the fourth quarter. Taylor Hoffman Wealth Management now owns 37,466 shares of the information services provider’s stock valued at $5,234,000 after acquiring an additional 1,140 shares during the last quarter. First Heartland Consultants Inc. boosted its stake in Alphabet by 2.9% in the fourth quarter. First Heartland Consultants Inc. now owns 8,826 shares of the information services provider’s stock valued at $1,233,000 after acquiring an additional 245 shares in the last quarter. Finally, Navellier & Associates Inc. grew its holdings in Alphabet by 104.4% in the fourth quarter. Navellier & Associates Inc. now owns 9,355 shares of the information services provider’s stock worth $1,307,000 after purchasing an additional 4,779 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated 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 $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, 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. In the last 90 days, insiders have sold 205,935 shares of company stock worth $31,178,987. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.8 %

GOOGL stock opened at $176.38 on Thursday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50-day simple moving average of $159.52 and a 200-day simple moving average of $146.20. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.36 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business earned $1.17 EPS. Equities analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. Mizuho raised their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Raymond James increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Argus raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.60.

About Alphabet

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.