6,164 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Econ Financial Services Corp

Econ Financial Services Corp purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,164 shares of the information services provider’s stock, valued at approximately $1,167,000.

Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $39,000. Denver PWM LLC increased its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the 3rd quarter worth approximately $66,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is owned by company insiders.

Alphabet Stock Down 0.5 %

NASDAQ:GOOGL opened at $185.23 on Friday. The firm has a market capitalization of $2.27 trillion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The stock has a 50 day moving average of $192.64 and a 200-day moving average of $175.03. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOGL shares. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.