Garrett Wealth Advisory Group LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Garrett Wealth Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,545 shares of the information services provider’s stock after acquiring an additional 216 shares during the quarter. Garrett Wealth Advisory Group LLC’s holdings in Alphabet were worth $292,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP acquired a new position in shares of Alphabet in the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% in 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 acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its position 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 period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL opened at $165.49 on Monday. 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 stock has a 50 day moving average of $185.70 and a 200-day moving average of $176.56. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.03 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued 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 return on equity of 32.49% and a net margin of 28.60%. As a group, analysts forecast 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. Stockholders 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 dividend yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler reduced their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Ten investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

Alphabet 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.