Axis Wealth Partners LLC Acquires Shares of 1,954 Alphabet Inc. (NASDAQ:GOOGL)

Axis Wealth Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,954 shares of the information services provider’s stock, valued at approximately $370,000.

Other institutional investors also recently modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at about $39,000. Finally, PayPay Securities Corp raised its holdings in Alphabet by 36.1% in 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 during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 price target on shares of Alphabet in a report on Wednesday. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler reduced their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. 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.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Stock Performance

GOOGL opened at $163.99 on Friday. The company has a 50 day simple moving average of $182.57 and a two-hundred day simple moving average of $176.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.00 trillion, a P/E ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. 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 earnings per share 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%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by company insiders.

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.