Range Financial Group LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Range Financial Group LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,001 shares of the information services provider’s stock, valued at approximately $453,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M. Kraus & Co boosted its holdings in Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC lifted its stake in Alphabet by 3.9% in the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after acquiring an additional 67 shares during the last quarter. Aire Advisors LLC lifted its stake in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC lifted its stake in Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after acquiring an additional 71 shares during the last quarter. Finally, WealthCare Investment Partners LLC raised its position in shares of Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after purchasing an additional 71 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’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 transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $26,375,053 in the last three months. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. Mizuho increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Barclays raised their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Canaccord Genuity Group raised their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.22 on Tuesday. The firm has a market capitalization of $2.21 trillion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The firm has a fifty day simple moving average of $170.54 and a two-hundred day simple moving average of $153.02. 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 12 month low of $115.35 and a 12 month high of $180.89.

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

Alphabet Announces Dividend

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

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.