Genesis Wealth Advisors LLC Invests $356,000 in Alphabet Inc. (NASDAQ:GOOGL)

Genesis Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,880 shares of the information services provider’s stock, valued at approximately $356,000.

Other large investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the 4th quarter valued at about $30,000. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $39,000. Finally, PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Citigroup decreased 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. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Morgan Stanley decreased their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $173.86 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 firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a fifty day simple moving average of $188.21 and a 200-day simple moving average of $176.47. Alphabet Inc. has a fifty-two week low of $134.00 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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 analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on 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 in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock valued at $25,062,887 over the last three months. Company 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.