MBE Wealth Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MBE Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,956 shares of the information services provider’s stock after purchasing an additional 235 shares during the quarter. MBE Wealth Management LLC’s holdings in Alphabet were worth $302,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $24,383,677,000. FMR LLC raised its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC raised its position in 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 valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors raised its position in 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 valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. KeyCorp boosted their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Sanford C. Bernstein boosted their target price on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Bank of America boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, UBS Group set a $195.00 price objective on Alphabet in a research note on Friday, April 25th. Ten investment 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 company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.17.

Read Our Latest Stock Report on GOOGL

Alphabet Stock Up 2.3%

Shares of NASDAQ:GOOGL opened at $170.68 on Thursday. The company has a market capitalization of $2.07 trillion, a PE ratio of 19.03, a P/E/G ratio of 1.06 and a beta of 1.01. 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 twelve month low of $140.53 and a twelve month high of $207.05. The firm has a 50 day simple moving average of $165.45 and a 200-day simple moving average of $174.58.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were 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 $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,306 shares of company stock worth $35,782,927 in the last 90 days. 11.64% of the stock is owned by insiders.

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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