ORG Wealth Partners LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

ORG Wealth Partners LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,419 shares of the information services provider’s stock after acquiring an additional 145 shares during the quarter. ORG Wealth Partners LLC’s holdings in Alphabet were worth $851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp boosted its position in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,070 shares of company stock worth $37,745,632. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Wedbush set a $190.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus cut their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler boosted their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Stock Down 3.9%

Shares of Alphabet stock opened at $166.64 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $164.77 and its 200-day simple moving average is $174.72. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the firm earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

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.