Joel Adams & Associates Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Joel Adams & Associates Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,123 shares of the information services provider’s stock, valued at approximately $402,000.

Several other hedge funds have also bought and sold shares of the stock. Schear Investment Advisers LLC raised its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc raised its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. Olistico Wealth LLC raised its position in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. raised its position in shares of Alphabet by 22.9% during the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after buying an additional 11,481 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOGL shares. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Performance

GOOGL stock opened at $167.01 on Tuesday. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.34 and a beta of 0.99. The firm has a 50-day simple moving average of $190.02 and a two-hundred day simple moving average of $176.35. Alphabet Inc. has a one year low of $130.66 and a one year 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 quarterly 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 forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is currently owned by insiders.

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.