Cherrydale Wealth Management LLC Purchases 1,512 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cherrydale Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,495 shares of the information services provider’s stock after purchasing an additional 1,512 shares during the period. Alphabet comprises 0.7% of Cherrydale Wealth Management LLC’s holdings, making the stock its 18th largest position. Cherrydale Wealth Management LLC’s holdings in Alphabet were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. RWQ Financial Management Services Inc. boosted its stake in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after buying an additional 76,410 shares during the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after buying an additional 118 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Alphabet in the 4th quarter valued at about $787,000. Finally, Quantum Financial Advisors LLC lifted its stake in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Jefferies Financial Group raised their target price on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Bank of America reiterated a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research note on Tuesday, June 11th. Finally, Susquehanna raised their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $193.26.

Alphabet Stock Performance

Shares of Alphabet stock opened at $179.22 on Tuesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $180.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 27.49, a P/E/G ratio of 1.35 and a beta of 1.01. The company’s 50 day moving average price is $170.54 and its two-hundred day moving average price is $153.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the business posted $1.17 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 158,458 shares of company stock worth $26,375,053. Company insiders own 11.55% of the company’s stock.

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.