583 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by WealthTrak Capital Management LLC

WealthTrak Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 583 shares of the information services provider’s stock, valued at approximately $110,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. State Street Corp raised its position in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Norges Bank bought a new stake in Alphabet in the fourth quarter worth approximately $24,383,677,000. JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after buying an additional 757,138 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,797 shares of company stock valued at $21,089,470. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. UBS Group set a $190.00 target price on Alphabet in a research note on Thursday, March 27th. Citigroup cut their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Wedbush boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Down 3.4 %

Shares of GOOGL stock opened at $145.60 on Monday. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. The company’s fifty day simple moving average is $175.15 and its two-hundred day simple moving average is $176.93. Alphabet Inc. has a 1 year low of $145.38 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is currently 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.