Strategic Advocates LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Strategic Advocates LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 48.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,092 shares of the information services provider’s stock after purchasing an additional 4,571 shares during the quarter. Alphabet accounts for 0.8% of Strategic Advocates LLC’s portfolio, making the stock its 24th largest position. Strategic Advocates LLC’s holdings in Alphabet were worth $1,969,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $38,000. Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Armor Investment Advisors LLC lifted its holdings in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after buying an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GOOGL shares. Jefferies Financial Group upped their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wolfe Research upped their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

View Our Latest Stock Report on GOOGL

Alphabet Trading Up 1.1 %

Shares of NASDAQ GOOGL opened at $176.06 on Friday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $176.26. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $157.22 and a 200-day simple moving average of $145.16. The stock has a market capitalization of $2.18 trillion, a PE ratio of 27.00, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.56 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%.

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,511 shares of company stock valued at $41,234,695. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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