Robbins Farley Acquires 118 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Robbins Farley increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 15,006 shares of the information services provider’s stock after buying an additional 118 shares during the quarter. Robbins Farley’s holdings in Alphabet were worth $2,096,000 at the end of the most recent quarter.

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

Alphabet Trading Up 10.2 %

Shares of Alphabet stock opened at $171.95 on Monday. The firm has a 50-day moving average of $147.85 and a 200-day moving average of $141.42. The stock has a market cap of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. Alphabet Inc. has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced 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 net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday. 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. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 over the last quarter. 0.88% of the stock is owned by company insiders.

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.