Buck Wealth Strategies LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 68,486 shares of the information services provider’s stock after purchasing an additional 5,579 shares during the quarter. Alphabet makes up 1.9% of Buck Wealth Strategies LLC’s portfolio, making the stock its 16th largest holding. Buck Wealth Strategies LLC’s holdings in Alphabet were worth $10,591,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Compass Planning Associates Inc bought a new position in Alphabet during the 4th quarter worth $30,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter worth about $49,000. Navigoe LLC bought a new position in shares of Alphabet during the fourth quarter worth about $51,000. Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter worth about $53,000. Finally, Campbell Capital Management Inc. bought a new position in Alphabet in the 4th quarter worth about $57,000. Institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent analyst reports. Truist Financial decreased their target price on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. UBS Group set a $195.00 price objective on Alphabet in a report on Friday, April 25th. Susquehanna decreased their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.17.
Alphabet Stock Performance
Shares of GOOGL opened at $170.68 on Thursday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a 50-day moving average of $165.45 and a two-hundred day moving average of $174.58. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. 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 (DPR) is 9.36%.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,306 shares of company stock worth $35,782,927. 11.64% of the stock is currently owned by company insiders.
Alphabet Profile
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.
Further Reading
- Five stocks we like better than Alphabet
- Why Invest in 5G? How to Invest in 5G Stocks
- Top 3 Bank Stocks to Watch as Fed Rate Cuts Loom
- How to Capture the Benefits of Dividend Increases
- Uber and Tesla Surge on Robotaxis, Analyst Touts Texas Rides
- How to Calculate Return on Investment (ROI)
- ASML Keeps Buying Back Its Own Stock—Chasing Discount and Upside
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.