Miracle Mile Advisors LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Miracle Mile Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 102,061 shares of the information services provider’s stock after purchasing an additional 2,744 shares during the period. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $15,404,000 at the end of the most recent reporting period.

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

Alphabet Trading Up 0.3 %

GOOGL opened at $185.82 on Friday. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 28.50, a P/E/G ratio of 1.39 and a beta of 1.05. 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 Inc. has a 12 month low of $115.35 and a 12 month high of $186.09. The firm’s fifty day simple moving average is $174.46 and its 200 day simple moving average is $155.39.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate 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. As a group, research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Wedbush increased their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. UBS Group increased their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus 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.