Waterfront Wealth Inc. Purchases 245 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Waterfront Wealth Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the first quarter, Holdings Channel.com reports. The firm owned 30,289 shares of the information services provider’s stock after buying an additional 245 shares during the quarter. Alphabet comprises approximately 1.1% of Waterfront Wealth Inc.’s investment portfolio, making the stock its 18th largest position. Waterfront Wealth Inc.’s holdings in Alphabet were worth $4,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the last quarter. Burt Wealth Advisors raised its position in Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after acquiring an additional 54 shares during the period. Perritt Capital Management Inc raised its position in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares during the period. Nia Impact Advisors LLC boosted its stake in shares of Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after acquiring an additional 59 shares during the last quarter. Finally, Hanlon Investment Management Inc. grew its position in shares of Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the sale, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last quarter. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. KeyCorp upped their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Roth Mkm reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.95.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $179.08 on Friday. The firm has a fifty day simple moving average of $168.70 and a two-hundred day simple moving average of $173.97. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 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.