Lane & Associates LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Lane & Associates LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,056 shares of the information services provider’s stock, valued at approximately $215,000.

Other hedge funds have also made changes to their positions in the company. Heritage Oak Wealth Advisors LLC raised its stake in shares of Alphabet by 155.2% in the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 6,248 shares of the information services provider’s stock valued at $1,036,000 after buying an additional 3,800 shares in the last quarter. Tandem Capital Management Corp ADV increased its stake in Alphabet by 1.0% in the third quarter. Tandem Capital Management Corp ADV now owns 42,080 shares of the information services provider’s stock valued at $6,351,000 after acquiring an additional 403 shares during the period. Court Place Advisors LLC raised its position in Alphabet by 0.5% in the third quarter. Court Place Advisors LLC now owns 19,587 shares of the information services provider’s stock worth $3,248,000 after purchasing an additional 91 shares in the last quarter. Hudock Inc. lifted its stake in Alphabet by 3.5% during the third quarter. Hudock Inc. now owns 4,774 shares of the information services provider’s stock worth $792,000 after purchasing an additional 163 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in Alphabet by 3.8% during the third quarter. Strategic Investment Solutions Inc. IL now owns 4,091 shares of the information services provider’s stock valued at $679,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Piper Sandler cut 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. Finally, Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Trading Down 0.4 %

NASDAQ GOOGL opened at $172.35 on Friday. Alphabet Inc. has a one year low of $131.61 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.10 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.34 and a beta of 0.99. The stock’s 50-day moving average is $188.59 and its 200-day moving average is $176.35.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,316 shares of company stock valued at $25,062,887. Company insiders own 11.55% of the company’s stock.

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.