Crumly & Associates Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,909 shares of the information services provider’s stock after purchasing an additional 89 shares during the quarter. Crumly & Associates Inc.’s holdings in Alphabet were worth $914,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC grew its position in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after acquiring an additional 403 shares during the period. Community Bank N.A. grew its position in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares during the period. Premier Fund Managers Ltd increased its stake in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC raised its holdings in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the period. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Up 2.3%
Shares of NASDAQ:GOOGL opened at $170.68 on Thursday. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The stock’s 50-day moving average price is $165.45 and its 200-day moving average price is $174.58. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, 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 sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now directly owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,306 shares of company stock worth $35,782,927. Insiders own 11.64% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on GOOGL shares. Susquehanna reduced their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Roth Mkm reissued a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Wedbush set a $190.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.17.
Get Our Latest Report on GOOGL
Alphabet Company 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.
See Also
- Five stocks we like better than Alphabet
- High Flyers: 3 Natural Gas Stocks for March 2022
- Top 3 Bank Stocks to Watch as Fed Rate Cuts Loom
- Retail Stocks Investing, Explained
- Uber and Tesla Surge on Robotaxis, Analyst Touts Texas Rides
- 3 Dividend Kings To Consider
- 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.