Cherry Tree Wealth Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cherry Tree Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,757 shares of the information services provider’s stock after buying an additional 123 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Alphabet were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Macroview Investment Management LLC grew its position in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. Addison Advisors LLC grew its position in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors grew its position in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after purchasing an additional 54 shares during the last quarter. Perritt Capital Management Inc grew its position in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 58 shares during the last quarter. Finally, Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group set a $195.00 price target on shares of Alphabet in a report on Friday, April 25th. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson dropped their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.75.

Check Out Our Latest Report on GOOGL

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $166.64 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The firm’s fifty day simple moving average is $164.77 and its 200-day simple moving average is $174.73.

Alphabet (NASDAQ:GOOGLGet Free Report) last released 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 quarter in the prior year, the firm posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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