Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Blue Chip Partners LLC

Blue Chip Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,413 shares of the information services provider’s stock after purchasing an additional 80 shares during the period. Blue Chip Partners LLC’s holdings in Alphabet were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Raleigh Capital Management Inc. boosted its holdings in shares of Alphabet by 6.2% in the third quarter. Raleigh Capital Management Inc. now owns 16,870 shares of the information services provider’s stock worth $2,798,000 after buying an additional 987 shares during the period. Integrity Financial Corp WA boosted its holdings in shares of Alphabet by 1.1% in the third quarter. Integrity Financial Corp WA now owns 6,977 shares of the information services provider’s stock worth $1,157,000 after buying an additional 75 shares during the period. Kaye Capital Management boosted its holdings in shares of Alphabet by 1.0% in the third quarter. Kaye Capital Management now owns 6,827 shares of the information services provider’s stock worth $1,132,000 after buying an additional 65 shares during the period. Ledyard National Bank boosted its holdings in shares of Alphabet by 0.4% in the third quarter. Ledyard National Bank now owns 109,121 shares of the information services provider’s stock worth $18,098,000 after buying an additional 458 shares during the period. Finally, Telos Capital Management Inc. boosted its holdings in shares of Alphabet by 0.4% in the third quarter. Telos Capital Management Inc. now owns 111,714 shares of the information services provider’s stock worth $18,528,000 after buying an additional 418 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. DA Davidson raised their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and set a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler decreased their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value 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 $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,309 shares of company stock valued at $25,057,490 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 1.1 %

Shares of NASDAQ:GOOGL opened at $170.33 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company’s fifty day moving average is $190.58 and its 200-day moving average is $176.20. 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.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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 research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued 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 0.47%. Alphabet’s dividend payout ratio is 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.