Parkworth Wealth Management Inc. Takes $74,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Parkworth Wealth Management Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 388 shares of the information services provider’s stock, valued at approximately $74,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC lifted its position in Alphabet by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after acquiring an additional 757,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after buying an additional 1,218,639 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now 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 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 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 0.7 %

NASDAQ:GOOGL opened at $163.99 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $182.57 and its two-hundred day moving average is $176.65. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current 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 issued 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 of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley decreased their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.59.

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.