WT Wealth Management Takes $270,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

WT Wealth Management bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,935 shares of the information services provider’s stock, valued at approximately $270,000.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Sonata Capital Group Inc. increased its holdings in Alphabet by 5.1% in the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after buying an additional 180 shares during the last quarter. Nvwm LLC increased its holdings in Alphabet by 1.3% in the third quarter. Nvwm LLC now owns 67,856 shares of the information services provider’s stock worth $8,880,000 after buying an additional 863 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Alphabet by 2.9% during the third quarter. Oak Ridge Investments LLC now owns 120,644 shares of the information services provider’s stock worth $15,787,000 after purchasing an additional 3,378 shares during the period. Peoples Bank KS bought a new stake in Alphabet during the third quarter worth approximately $2,599,000. Finally, Bell Bank boosted its position in Alphabet by 9.0% during the third quarter. Bell Bank now owns 22,667 shares of the information services provider’s stock worth $2,966,000 after purchasing an additional 1,874 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $173.55 on Friday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The firm has a market cap of $2.14 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business has a fifty day moving average of $160.13 and a 200-day moving average of $146.39.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the company posted $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 0.46%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were 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 owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,935 shares of company stock worth $31,178,987. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. TD Cowen upped their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Argus upped their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Rosenblatt Securities upped their target price on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC upped their target price on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.