Resonant Capital Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Resonant Capital Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,226 shares of the information services provider’s stock after buying an additional 2,225 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $5,722,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Czech National Bank raised its stake in Alphabet by 6.6% in the third quarter. Czech National Bank now owns 1,193,541 shares of the information services provider’s stock valued at $197,949,000 after buying an additional 74,225 shares during the last quarter. Eclectic Associates Inc. ADV increased its holdings in shares of Alphabet by 16.2% during the third quarter. Eclectic Associates Inc. ADV now owns 1,539 shares of the information services provider’s stock valued at $255,000 after acquiring an additional 215 shares in the last quarter. Central Valley Advisors LLC raised its position in shares of Alphabet by 4.4% in the 3rd quarter. Central Valley Advisors LLC now owns 19,110 shares of the information services provider’s stock valued at $3,170,000 after purchasing an additional 808 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in Alphabet by 0.4% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 31,544 shares of the information services provider’s stock worth $5,232,000 after purchasing an additional 134 shares in the last quarter. Finally, Quent Capital LLC grew its position in Alphabet by 3.0% during the 3rd quarter. Quent Capital LLC now owns 32,954 shares of the information services provider’s stock worth $5,458,000 after purchasing an additional 969 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein lifted their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 0.6 %

Shares of GOOGL stock opened at $185.32 on Wednesday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The stock’s fifty day moving average is $191.90 and its two-hundred day moving average is $174.76. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 23.02, a PEG ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.