Atlas Wealth LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Atlas Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,360 shares of the information services provider’s stock after acquiring an additional 400 shares during the quarter. Atlas Wealth LLC’s holdings in Alphabet were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares in the last quarter. Capital City Trust Co. FL grew its stake in Alphabet by 1.0% during the third quarter. Capital City Trust Co. FL now owns 65,586 shares of the information services provider’s stock valued at $10,877,000 after acquiring an additional 640 shares in the last quarter. Drive Wealth Management LLC increased its holdings in Alphabet by 4.9% during the 3rd quarter. Drive Wealth Management LLC now owns 23,968 shares of the information services provider’s stock worth $3,975,000 after acquiring an additional 1,118 shares during the period. Cassaday & Co Wealth Management LLC lifted its stake in Alphabet by 3.1% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 22,305 shares of the information services provider’s stock worth $3,699,000 after purchasing an additional 672 shares in the last quarter. Finally, Tidemark LLC boosted its holdings in Alphabet by 2.5% in the 3rd quarter. Tidemark LLC now owns 3,143 shares of the information services provider’s stock valued at $521,000 after purchasing an additional 77 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Robert W. Baird reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Bank of America reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.49.

Alphabet Price Performance

Shares of GOOGL stock opened at $157.07 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The firm has a market cap of $1.91 trillion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.02. The business’s 50 day moving average price is $178.01 and its 200-day moving average price is $177.09.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were 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 in the company, valued at approximately $8,181,333.08. The trade was a 19.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,665 shares of company stock valued at $16,198,310 over the last three months. Corporate insiders own 11.55% of the company’s stock.

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.