Relyea Zuckerberg Hanson LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,878 shares of the information services provider’s stock after buying an additional 3,153 shares during the period. Alphabet comprises 0.7% of Relyea Zuckerberg Hanson LLC’s investment portfolio, making the stock its 29th biggest holding. Relyea Zuckerberg Hanson LLC’s holdings in Alphabet were worth $5,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. CNB Bank boosted its holdings in Alphabet by 13.4% during the fourth quarter. CNB Bank now owns 21,095 shares of the information services provider’s stock worth $3,993,000 after buying an additional 2,496 shares in the last quarter. Saxon Interests Inc. lifted its position in shares of Alphabet by 28.9% during the 4th quarter. Saxon Interests Inc. now owns 2,982 shares of the information services provider’s stock valued at $565,000 after acquiring an additional 668 shares during the period. Avanza Fonder AB purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $70,378,000. Wealthcare Capital Management LLC increased its stake in Alphabet by 12.7% in the 4th quarter. Wealthcare Capital Management LLC now owns 2,769 shares of the information services provider’s stock valued at $524,000 after purchasing an additional 313 shares in the last quarter. Finally, Everpar Advisors LLC increased its stake in Alphabet by 12.1% in the 4th quarter. Everpar Advisors LLC now owns 9,870 shares of the information services provider’s stock valued at $1,868,000 after purchasing an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. KeyCorp boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $208.15.

Alphabet Stock Performance

Shares of GOOGL opened at $196.00 on Monday. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. The business’s 50 day moving average is $184.43 and its two-hundred day moving average is $173.34. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.