Blue Zone Wealth Advisors LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Blue Zone Wealth Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,172 shares of the information services provider’s stock after purchasing an additional 1,217 shares during the period. Alphabet makes up about 3.2% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Blue Zone Wealth Advisors LLC’s holdings in Alphabet were worth $9,233,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Richardson Capital Management LLC lifted its holdings in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares in the last quarter. Armor Investment Advisors LLC grew its position in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% during the 4th 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. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOGL shares. Loop Capital reiterated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday. Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Bank of America reaffirmed a “buy” rating and set a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. Susquehanna boosted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Finally, Raymond James lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.66.

Alphabet Price Performance

Shares of Alphabet stock opened at $185.82 on Thursday. 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 stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.09. The company has a 50-day simple moving average of $173.92 and a two-hundred day simple moving average of $155.17.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (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 during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the company posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’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 transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 over the last quarter. 11.55% of the stock is owned by company insiders.

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.