Nicholas Hoffman & Company LLC. Buys 746 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Nicholas Hoffman & Company LLC. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 16,729 shares of the information services provider’s stock after purchasing an additional 746 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Alphabet were worth $2,337,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC raised its position in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alphabet by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after purchasing an additional 335,219 shares during the last quarter. American Century Companies Inc. increased its position in Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after purchasing an additional 2,058,221 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $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 worth $36,746,578. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.95 on Monday. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a 50-day simple moving average of $147.85 and a two-hundred day simple moving average of $141.42. Alphabet Inc. has a one year low of $103.54 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate 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 earnings per share. Research analysts expect that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOGL shares. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group boosted their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research report on Friday. Finally, Rosenblatt Securities boosted their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.82.

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.