Fox Hill Wealth Management Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Fox Hill Wealth Management raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,240 shares of the information services provider’s stock after purchasing an additional 422 shares during the quarter. Fox Hill Wealth Management’s holdings in Alphabet were worth $942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $38,000. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.2 %

GOOGL stock opened at $185.24 on Wednesday. The company has a market cap of $2.29 trillion, a P/E ratio of 28.41, a P/E/G ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The company’s 50-day moving average price is $173.38 and its 200 day moving average price is $154.80. 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 (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 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 quarter in the previous year, the firm earned $1.17 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors 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 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. TD Cowen upped their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, June 28th. Tigress Financial upped their price objective on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,788 shares of company stock valued at $21,143,403. Corporate 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.