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

MCF Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,846 shares of the information services provider’s stock after purchasing an additional 1,059 shares during the quarter. MCF Advisors LLC’s holdings in Alphabet were worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Aire Advisors LLC raised its stake in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares in the last quarter. Defined Wealth Management LLC raised its position in shares of Alphabet by 2.9% during the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after buying an additional 71 shares in the last quarter. WealthCare Investment Partners LLC lifted its stake in shares of Alphabet by 2.1% in the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. boosted its holdings in shares of Alphabet by 0.4% in the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after acquiring an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC increased its stake in shares of Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after acquiring an additional 73 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the firm’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 sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a document filed with the SEC, 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 253,209 shares of company stock valued at $36,711,144 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. JPMorgan Chase & Co. increased their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp lifted their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. TD Cowen upped their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. UBS Group lifted their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $189.44.

Alphabet Stock Performance

GOOGL stock opened at $166.15 on Tuesday. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05. The firm has a 50 day moving average of $148.36 and a two-hundred day moving average of $141.62. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $103.71 and a 12 month high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the company posted $1.17 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors 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 annualized dividend and a yield of 0.48%.

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.