Abound Financial LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Abound Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,809 shares of the information services provider’s stock, valued at approximately $1,478,000. Alphabet makes up approximately 0.7% of Abound Financial LLC’s holdings, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new position in Alphabet during the fourth quarter worth about $30,000. LMR Partners LLP bought a new position in Alphabet during the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter worth about $39,000. Finally, PayPay Securities Corp boosted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business’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 value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,316 shares of company stock worth $25,062,887. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GOOGL shares. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Cantor Fitzgerald cut their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Price Performance

NASDAQ GOOGL opened at $173.86 on Friday. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. 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 business’s fifty day moving average is $188.21 and its 200 day moving average is $176.40. Alphabet Inc. has a fifty-two week low of $134.00 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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%.

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.