Towerpoint Wealth LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Towerpoint Wealth LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,339 shares of the information services provider’s stock after purchasing an additional 398 shares during the quarter. Towerpoint Wealth LLC’s holdings in Alphabet were worth $655,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. M. Kraus & Co lifted its holdings in shares of Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares in the last quarter. Wynn Capital LLC raised its position in shares of Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after purchasing an additional 67 shares during the last quarter. Aire Advisors LLC lifted its stake in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after buying an additional 68 shares during the last quarter. Finally, Defined Wealth Management LLC increased its position in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $182.15 on Friday. The business’s 50-day moving average is $172.85 and its two-hundred day moving average is $154.29. The firm has a market capitalization of $2.25 trillion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $186.05. 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 (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business 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 quarter last year, the firm earned $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,284 shares of company stock worth $24,534,393. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. KeyCorp upped their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Roth Mkm raised their price target on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Evercore ISI boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Bank of America reissued a “buy” rating and set a $200.00 price objective on shares of Alphabet in a research note on Tuesday, June 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average 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.