Linscomb Wealth Inc. Purchases 693 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Linscomb Wealth Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,462 shares of the information services provider’s stock after acquiring an additional 693 shares during the quarter. Linscomb Wealth Inc.’s holdings in Alphabet were worth $10,310,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC grew its position in Alphabet by 17.0% during the third 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 during the period. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% during the third 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 during the period. Olistico Wealth LLC grew its position in Alphabet by 9.1% during the fourth 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 during the period. Centaurus Financial Inc. boosted its position in Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after purchasing an additional 11,481 shares during the period. Finally, Highline Wealth Partners LLC boosted its position in Alphabet by 22.7% during the fourth quarter. Highline Wealth Partners LLC now owns 23,164 shares of the information services provider’s stock worth $4,385,000 after purchasing an additional 4,285 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley cut their target price 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. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday, February 6th. Wedbush increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, 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 report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,682 shares of company stock worth $17,901,024. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.9 %

GOOGL stock opened at $167.11 on Thursday. The company has a market capitalization of $2.04 trillion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $138.99 and a one year high of $207.05. The company’s 50 day moving average price is $186.76 and its two-hundred day moving average price is $176.48. 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 posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Company 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.