Financial Synergies Wealth Advisors Inc. Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Financial Synergies Wealth Advisors Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 560.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528 shares of the information services provider’s stock after buying an additional 448 shares during the quarter. Financial Synergies Wealth Advisors Inc.’s holdings in Alphabet were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. Meritage Group LP boosted its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Armor Investment Advisors LLC boosted its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC boosted its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. TD Cowen lifted their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Mizuho boosted their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Tigress Financial boosted their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. Evercore ISI boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Finally, Barclays boosted their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.26.

Alphabet Stock Performance

Alphabet stock opened at $184.03 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.27 trillion, a P/E ratio of 28.23, a PEG ratio of 1.35 and a beta of 1.01. The stock’s 50 day moving average is $171.13 and its 200 day moving average is $153.36. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $184.29.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the business posted $1.17 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,374 shares of company stock worth $24,548,073. Insiders own 11.55% of the company’s stock.

Alphabet 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.