Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Pathway Financial Advisors LLC

Pathway Financial Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 129.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,380 shares of the information services provider’s stock after buying an additional 3,600 shares during the period. Pathway Financial Advisors LLC’s holdings in Alphabet were worth $891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Trust lifted its position in Alphabet by 0.5% in the third quarter. Legacy Trust now owns 55,410 shares of the information services provider’s stock worth $7,251,000 after purchasing an additional 283 shares during the period. Community Trust & Investment Co. lifted its position in Alphabet by 71.0% in the third quarter. Community Trust & Investment Co. now owns 3,613 shares of the information services provider’s stock worth $473,000 after purchasing an additional 1,500 shares during the period. Essex LLC lifted its position in Alphabet by 3.4% in the third quarter. Essex LLC now owns 27,121 shares of the information services provider’s stock worth $3,549,000 after purchasing an additional 882 shares during the period. Capital Investment Advisors LLC lifted its position in Alphabet by 1.3% in the third quarter. Capital Investment Advisors LLC now owns 340,364 shares of the information services provider’s stock worth $44,540,000 after purchasing an additional 4,490 shares during the period. Finally, Howard Capital Management Group LLC lifted its position in Alphabet by 0.7% in the third quarter. Howard Capital Management Group LLC now owns 313,381 shares of the information services provider’s stock worth $41,009,000 after purchasing an additional 2,236 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOGL shares. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets upped their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Evercore ISI upped their price target on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock valued at $36,746,578 over the last three months. 0.88% of the stock is currently owned by insiders.

Alphabet Trading Up 10.2 %

Alphabet stock opened at $171.95 on Monday. The company’s fifty day simple moving average is $147.85 and its 200-day simple moving average is $141.42. The company has a quick ratio of 2.10, a current 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. The stock has a market cap of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.58 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the previous year, the company posted $1.05 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.82 EPS for the current fiscal 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

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.