Guardian Capital LLC Makes New Investment in Alphabet Inc. $GOOG

Guardian Capital LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,443 shares of the information services provider’s stock, valued at approximately $767,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after purchasing an additional 806,681 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $658,000. Financial Advisors Network Inc. lifted its stake in shares of Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after purchasing an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its stake in shares of Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after purchasing an additional 3,616 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.4%

Alphabet stock opened at $384.84 on Wednesday. The firm has a market cap of $4.66 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.62 and a beta of 1.25. The stock has a fifty day simple moving average of $338.73 and a two-hundred day simple moving average of $322.49. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.81 EPS. Equities analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is 6.71%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares of the company’s stock, valued at $6,908,391. The trade was a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 226,481 shares of company stock worth $27,422,061. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Sanford C. Bernstein restated a “market perform” rating and issued a $345.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Truist Financial set a $385.00 target price on Alphabet in a research note on Wednesday, April 22nd. Pivotal Research restated a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Scotiabank restated an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, DZ Bank upgraded Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $372.65.

Read Our Latest Report on GOOG

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About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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