9,073 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,073 shares of the information services provider’s stock, valued at approximately $1,718,000. Alphabet comprises approximately 1.2% of Millstone Evans Group LLC’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds have also made changes to their positions in the company. Atlas Wealth LLC raised its position in shares of Alphabet by 10.1% during the 4th quarter. Atlas Wealth LLC now owns 4,360 shares of the information services provider’s stock worth $825,000 after purchasing an additional 400 shares during the last quarter. Mindset Wealth Management LLC increased its position in Alphabet by 11.8% during the fourth quarter. Mindset Wealth Management LLC now owns 14,893 shares of the information services provider’s stock worth $2,819,000 after buying an additional 1,571 shares in the last quarter. Wealth Advisors of Iowa LLC raised its holdings in shares of Alphabet by 7.0% in the fourth quarter. Wealth Advisors of Iowa LLC now owns 3,339 shares of the information services provider’s stock worth $632,000 after acquiring an additional 217 shares during the last quarter. MRP Capital Investments LLC lifted its position in shares of Alphabet by 38.3% in the fourth quarter. MRP Capital Investments LLC now owns 12,450 shares of the information services provider’s stock valued at $2,357,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $799,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,665 shares of company stock valued at $16,198,310. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley dropped their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. DA Davidson lifted 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. Jefferies Financial Group dropped their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.49.

Alphabet Stock Up 1.6 %

GOOGL stock opened at $157.07 on Wednesday. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a fifty day simple moving average of $178.01 and a 200 day simple moving average of $177.09. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.91 trillion, a PE ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted 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 net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 0.51%. Alphabet’s payout ratio is 9.94%.

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.