Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Tower View Wealth Management LLC

Tower View Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,056 shares of the information services provider’s stock after buying an additional 281 shares during the quarter. Alphabet makes up about 2.0% of Tower View Wealth Management LLC’s holdings, making the stock its 23rd largest position. Tower View Wealth Management LLC’s holdings in Alphabet were worth $3,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet in the 3rd quarter valued at about $513,024,000. Geode Capital Management LLC raised its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Alphabet by 26.9% in the 3rd quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock valued at $1,669,300,000 after purchasing an additional 2,136,128 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DA Davidson boosted their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Cantor Fitzgerald lowered their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Ten 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 stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

Shares of GOOGL opened at $165.49 on Friday. The business’s 50 day moving average is $185.70 and its two-hundred day moving average is $176.38. Alphabet Inc. has a 52-week low of $140.03 and a 52-week high of $207.05. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

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, 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%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,882 shares of company stock valued at $17,934,130. Corporate 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.