Mindset Wealth Management LLC Purchases 1,571 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mindset Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,893 shares of the information services provider’s stock after purchasing an additional 1,571 shares during the period. Alphabet makes up approximately 1.0% of Mindset Wealth Management LLC’s investment portfolio, making the stock its 5th largest holding. Mindset Wealth Management LLC’s holdings in Alphabet were worth $2,819,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in Alphabet by 3.1% in 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 during the last quarter. Capital City Trust Co. FL grew its holdings in shares of Alphabet by 1.0% in the 3rd 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 position in shares of Alphabet by 4.9% in the third quarter. Drive Wealth Management LLC now owns 23,968 shares of the information services provider’s stock valued at $3,975,000 after acquiring an additional 1,118 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in Alphabet by 3.1% during the third quarter. Cassaday & Co Wealth Management LLC now owns 22,305 shares of the information services provider’s stock worth $3,699,000 after acquiring an additional 672 shares in the last quarter. Finally, Tidemark LLC boosted its position in Alphabet by 2.5% during the third 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 last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,665 shares of company stock worth $16,198,310 over the last three months. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOGL shares. Wolfe Research boosted their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. Jefferies Financial Group cut their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Morgan Stanley dropped their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.49.

Alphabet Stock Up 1.6 %

Shares of NASDAQ GOOGL opened at $157.07 on Wednesday. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average is $178.01 and its 200 day moving average is $177.09. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. 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 (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate 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 forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 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.