Horizon Wealth Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Horizon Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,692 shares of the information services provider’s stock after buying an additional 475 shares during the period. Horizon Wealth Management LLC’s holdings in Alphabet were worth $557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $38,000. Richardson Capital Management LLC grew its position in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Armor Investment Advisors LLC grew its position 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 grew its position in Alphabet by 55.9% during the 4th 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 last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.82 on Friday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.09. The stock has a market capitalization of $2.30 trillion, a PE ratio of 28.50, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a fifty day moving average of $174.46 and a two-hundred day moving average of $155.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several analysts have weighed in on GOOGL shares. Royal Bank of Canada boosted their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup boosted their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. TD Cowen lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Argus lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Wedbush lifted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is owned by company insiders.

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.