Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by GuoLine Advisory Pte Ltd

GuoLine Advisory Pte Ltd lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,000 shares of the information services provider’s stock after buying an additional 45,500 shares during the quarter. Alphabet makes up about 9.1% of GuoLine Advisory Pte Ltd’s investment portfolio, making the stock its 2nd largest holding. GuoLine Advisory Pte Ltd’s holdings in Alphabet were worth $74,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter worth $38,000. 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 worth $40,000 after purchasing an additional 276 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 worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC boosted its holdings in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of GOOGL opened at $182.15 on Friday. The business’s 50-day moving average price is $172.85 and its 200 day moving average price is $154.29. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 27.94, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm 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 last year, the business posted $1.17 EPS. Analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. TD Cowen lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Raymond James lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Tuesday, June 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 price target (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

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.