Howard Bailey Securities LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Howard Bailey Securities LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 37.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,771 shares of the information services provider’s stock after acquiring an additional 749 shares during the period. Howard Bailey Securities LLC’s holdings in Alphabet were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Bennett Selby Investments LP boosted its stake in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the last quarter. Denver PWM LLC increased its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Finally, Ignite Planners LLC grew its holdings in Alphabet by 0.4% in the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after buying an additional 57 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following 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 represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,299 shares of company stock worth $25,055,751. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten 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 has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Check Out Our Latest Research Report on Alphabet

Alphabet Stock Performance

GOOGL opened at $179.25 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $192.12 and its two-hundred day simple moving average is $176.05. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its 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%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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