Magnolia Wealth Management LLC Invests $203,000 in Alphabet Inc. (NASDAQ:GOOGL)

Magnolia Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,070 shares of the information services provider’s stock, valued at approximately $203,000. Alphabet comprises about 0.1% of Magnolia Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other large investors have also recently modified their holdings of the stock. Shengqi Capital Hong Kong Ltd purchased a new position in shares of Alphabet in the 4th quarter worth about $17,225,000. Greenwoods Asset Management Hong Kong Ltd. raised its position in shares of Alphabet by 953.0% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 501,299 shares of the information services provider’s stock worth $94,896,000 after purchasing an additional 453,694 shares during the last quarter. Marco Investment Management LLC raised its position in Alphabet by 6.9% in the 4th quarter. Marco Investment Management LLC now owns 87,179 shares of the information services provider’s stock worth $16,503,000 after buying an additional 5,655 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its position in Alphabet by 4.3% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 5,379 shares of the information services provider’s stock worth $1,018,000 after buying an additional 220 shares during the last quarter. Finally, BBR Partners LLC raised its position in Alphabet by 12.2% in the 4th quarter. BBR Partners LLC now owns 98,797 shares of the information services provider’s stock worth $18,702,000 after buying an additional 10,716 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. DA Davidson boosted 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. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday. Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten 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 stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 2.0 %

GOOGL stock opened at $163.89 on Thursday. Alphabet Inc. has a 1-year low of $146.74 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.34 and a beta of 1.02. The business has a 50 day simple moving average of $183.75 and a two-hundred day simple moving average of $176.47.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Research analysts anticipate 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 was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.