Market Street Wealth Management Advisors LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Market Street Wealth Management Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,719 shares of the information services provider’s stock after acquiring an additional 121 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in Alphabet were worth $561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. Meritage Group LP increased its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Armor Investment Advisors LLC raised its holdings in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock traded down $0.05 during mid-day trading on Monday, hitting $179.58. The stock had a trading volume of 2,182,897 shares, compared to its average volume of 28,818,990. The firm has a fifty day simple moving average of $170.05 and a 200 day simple moving average of $152.72. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $180.89.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the company earned $1.17 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $26,375,053 in the last quarter. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Royal Bank of Canada raised their price objective on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Needham & Company LLC boosted their price target on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Robert W. Baird increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Argus lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $193.26.

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.