Thrive Wealth Management LLC Has $1.98 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Thrive Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% during the first quarter, Holdings Channel.com reports. The firm owned 13,112 shares of the information services provider’s stock after acquiring an additional 1,387 shares during the period. Thrive Wealth Management LLC’s holdings in Alphabet were worth $1,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter worth about $38,000. Meritage Group LP increased its position 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 raised its holdings in Alphabet by 31.0% during the 4th 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 last quarter. Finally, IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $182.15 on Friday. The company’s 50 day moving average price is $172.85 and its two-hundred day moving average price is $154.29. The firm 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. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05.

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, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the business posted $1.17 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, 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 filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 over the last quarter. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective (down from $182.00) on shares of Alphabet in a research note on Friday. Wells Fargo & Company increased their target price on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Raymond James raised their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

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.