Congress Wealth Management LLC DE Purchases 84,950 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Congress Wealth Management LLC DE raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,268 shares of the information services provider’s stock after acquiring an additional 84,950 shares during the period. Alphabet makes up 0.8% of Congress Wealth Management LLC DE’s portfolio, making the stock its 21st biggest holding. Congress Wealth Management LLC DE’s holdings in Alphabet were worth $55,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet during the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $39,000. PayPay Securities Corp grew 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 in the last quarter. Finally, Denver PWM LLC increased its stake in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of the firm’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 directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,297 shares of company stock valued at $15,936,270. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup decreased their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.49.

Alphabet Price Performance

Alphabet stock opened at $157.04 on Thursday. 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 capitalization of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. The business has a 50-day moving average of $177.19 and a 200-day moving average of $176.95. Alphabet Inc. has a 1 year low of $147.22 and a 1 year 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, 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%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 yield of 0.51%. Alphabet’s dividend payout ratio is presently 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.