Lake Street Advisors Group LLC Buys 1,370 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lake Street Advisors Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 69,680 shares of the information services provider’s stock after purchasing an additional 1,370 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Alphabet were worth $13,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of 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 valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp increased its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 4.6 %

Alphabet stock opened at $165.87 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $136.13 and a one year high of $207.05. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business’s fifty day moving average is $187.71 and its 200 day moving average is $176.56.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 0.48%. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,182 shares of company stock valued at $18,192,354. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOGL shares. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. KeyCorp upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Finally, Wedbush upped their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

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.