Palouse Capital Management Inc. Has $1.85 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Palouse Capital Management Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,229 shares of the information services provider’s stock after selling 109 shares during the quarter. Palouse Capital Management Inc.’s holdings in Alphabet were worth $1,848,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares in the last quarter. Armor Investment Advisors LLC boosted its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Alphabet in the 4th quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 10.2 %

NASDAQ GOOGL opened at $171.95 on Friday. The stock has a 50-day simple moving average of $147.85 and a 200 day simple moving average of $141.42. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $103.54 and a 12 month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Research analysts forecast that Alphabet Inc. will post 6.79 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. UBS Group lifted their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Mizuho lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp lifted their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 0.88% of the company’s stock.

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.