CIC Wealth LLC Buys 675 Shares of Alphabet Inc. (NASDAQ:GOOGL)

CIC Wealth LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,316 shares of the information services provider’s stock after purchasing an additional 675 shares during the period. Alphabet comprises 1.1% of CIC Wealth LLC’s holdings, making the stock its 22nd largest position. CIC Wealth LLC’s holdings in Alphabet were worth $3,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOOGL. M. Kraus & Co boosted its holdings in shares of Alphabet by 1.1% in the 1st 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 in the last quarter. Wynn Capital LLC grew its position in Alphabet by 3.9% during 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 raised its stake in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after acquiring an additional 68 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 2.1% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after acquiring an additional 68 shares during the last quarter. Finally, Defined Wealth Management LLC boosted its stake in shares of Alphabet by 2.9% in the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $185.41 on Friday. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.05. The firm’s 50-day moving average is $171.70 and its 200 day moving average is $153.58.

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

Alphabet Dividend Announcement

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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock valued at $24,534,393 over the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Argus increased their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company raised their price target on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Rosenblatt Securities increased their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Five 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 stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $193.69.

About Alphabet

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.