5T Wealth LLC Makes New $930,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

5T Wealth LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,910 shares of the information services provider’s stock, valued at approximately $930,000.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its stake in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Wolfe Research lifted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Performance

Alphabet stock opened at $170.33 on Friday. 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 company has a market capitalization of $2.08 trillion, a PE ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 0.99. The firm has a fifty day simple moving average of $190.58 and a two-hundred day simple moving average of $176.20. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05.

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 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,309 shares of company stock valued at $25,057,490. Insiders own 11.55% of the company’s stock.

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.