Eagle Wealth Strategies LLC Invests $219,000 in Alphabet Inc. (NASDAQ:GOOGL)

Eagle Wealth Strategies LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,408 shares of the information services provider’s stock, valued at approximately $219,000.

Several other hedge funds have also bought and sold shares of GOOGL. CIC Wealth LLC boosted its holdings in shares of Alphabet by 2.7% in the 1st quarter. CIC Wealth LLC now owns 25,316 shares of the information services provider’s stock worth $3,821,000 after purchasing an additional 675 shares in the last quarter. CFM Wealth Partners LLC boosted its stake in Alphabet by 1.7% in the first quarter. CFM Wealth Partners LLC now owns 126,927 shares of the information services provider’s stock worth $19,157,000 after buying an additional 2,169 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its position in Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after acquiring an additional 68 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Alphabet by 12.1% in the 1st quarter. Sound Income Strategies LLC now owns 35,795 shares of the information services provider’s stock worth $5,403,000 after acquiring an additional 3,857 shares during the last quarter. Finally, Ayalon Insurance Comp Ltd. boosted its stake in shares of Alphabet by 32.0% in the 1st quarter. Ayalon Insurance Comp Ltd. now owns 15,407 shares of the information services provider’s stock valued at $2,325,000 after purchasing an additional 3,732 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, 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 transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,284 shares of company stock valued at $24,534,393. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Barclays lifted their target price 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. Mizuho boosted their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird raised their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Oppenheimer increased their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.69.

Alphabet Price Performance

GOOGL opened at $185.41 on Friday. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.05. The stock has a 50-day moving average price of $171.70 and a 200-day moving average price of $153.58. The firm has a market cap of $2.29 trillion, a PE ratio of 28.44, a P/E/G 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 (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the company earned $1.17 earnings per share. Sell-side 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%.

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.