Turtle Creek Wealth Advisors LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Turtle Creek Wealth Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,880 shares of the information services provider’s stock after purchasing an additional 1,982 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Alphabet were worth $2,246,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brown Shipley& Co Ltd grew its holdings in Alphabet by 6.0% during the third quarter. Brown Shipley& Co Ltd now owns 69,979 shares of the information services provider’s stock worth $9,157,000 after acquiring an additional 3,973 shares during the period. Carlson Capital Management grew its holdings in Alphabet by 6.5% in the third quarter. Carlson Capital Management now owns 13,002 shares of the information services provider’s stock valued at $1,701,000 after purchasing an additional 797 shares during the last quarter. Rooted Wealth Advisors Inc. grew its holdings in Alphabet by 23.0% in the third quarter. Rooted Wealth Advisors Inc. now owns 6,194 shares of the information services provider’s stock valued at $838,000 after purchasing an additional 1,159 shares during the last quarter. Braun Stacey Associates Inc. grew its holdings in Alphabet by 7.9% in the third quarter. Braun Stacey Associates Inc. now owns 329,307 shares of the information services provider’s stock valued at $43,093,000 after purchasing an additional 24,049 shares during the last quarter. Finally, Comerica Bank grew its holdings in Alphabet by 198.4% in the third quarter. Comerica Bank now owns 1,478,153 shares of the information services provider’s stock valued at $193,431,000 after purchasing an additional 982,783 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.0 %

Shares of NASDAQ GOOGL opened at $188.98 on Wednesday. The company has a market cap of $2.34 trillion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $191.36. 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’s 50 day simple moving average is $176.41 and its 200 day simple moving average is $156.91.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business posted $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Susquehanna upped their price objective on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Canaccord Genuity Group upped their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Bank of America restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Tuesday, June 11th. Finally, Argus upped their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.34.

Read Our Latest Stock Analysis on GOOGL

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock valued at $21,143,403 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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