Boit C F David Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Boit C F David grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,422 shares of the information services provider’s stock after buying an additional 700 shares during the period. Alphabet accounts for about 3.5% of Boit C F David’s portfolio, making the stock its 8th largest position. Boit C F David’s holdings in Alphabet were worth $6,895,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Abundance Wealth Counselors boosted its stake in Alphabet by 0.6% in the 4th quarter. Abundance Wealth Counselors now owns 31,770 shares of the information services provider’s stock worth $6,014,000 after purchasing an additional 203 shares in the last quarter. Brio Consultants LLC boosted its stake in Alphabet by 11.5% in the 4th quarter. Brio Consultants LLC now owns 8,398 shares of the information services provider’s stock worth $1,590,000 after purchasing an additional 864 shares in the last quarter. Independence Bank of Kentucky boosted its stake in Alphabet by 7.6% in the 4th quarter. Independence Bank of Kentucky now owns 84,534 shares of the information services provider’s stock worth $16,002,000 after purchasing an additional 5,951 shares in the last quarter. OFC Financial Planning LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $345,000. Finally, Alpha Omega Wealth Management LLC boosted its stake in Alphabet by 0.4% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 19,872 shares of the information services provider’s stock worth $3,762,000 after purchasing an additional 83 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup lowered their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. KeyCorp lifted their price objective 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. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald decreased their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 3.3 %

Shares of NASDAQ:GOOGL opened at $185.34 on Monday. The firm’s 50-day moving average is $191.61 and its two-hundred day moving average is $174.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The firm has a market capitalization of $2.27 trillion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts predict that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is 9.94%.

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.