Lakeridge Wealth Management LLC Buys 62 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lakeridge Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,940 shares of the information services provider’s stock after buying an additional 62 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Alphabet were worth $367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pure Portfolios Holdings LLC acquired a new stake in Alphabet during the 3rd quarter valued at $922,000. Cyndeo Wealth Partners LLC raised its position in shares of Alphabet by 18.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 105,949 shares of the information services provider’s stock valued at $17,572,000 after purchasing an additional 16,758 shares during the period. West Branch Capital LLC raised its position in shares of Alphabet by 1.4% in the third quarter. West Branch Capital LLC now owns 84,752 shares of the information services provider’s stock valued at $14,056,000 after purchasing an additional 1,161 shares during the period. Stegent Equity Advisors Inc. lifted its stake in shares of Alphabet by 2.2% during the 3rd quarter. Stegent Equity Advisors Inc. now owns 9,355 shares of the information services provider’s stock worth $1,552,000 after buying an additional 204 shares during the last quarter. Finally, Lee Johnson Capital Management LLC bought a new stake in shares of Alphabet during the 3rd quarter worth about $4,056,000. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, 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. Insiders have sold 134,188 shares of company stock valued at $25,036,883 in the last three months. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOGL shares. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald decreased their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Ten equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Down 2.6 %

Shares of NASDAQ GOOGL opened at $168.27 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a 50-day moving average price of $191.00 and a 200-day moving average price of $176.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.