Addison Advisors LLC Purchases 323 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Addison Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,386 shares of the information services provider’s stock after purchasing an additional 323 shares during the quarter. Addison Advisors LLC’s holdings in Alphabet were worth $892,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Alphabet by 5.6% in 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 acquiring an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC increased its stake in Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Alphabet in the third quarter valued at $634,465,000. Ontario Teachers Pension Plan Board bought a new position in Alphabet in the third quarter valued at $601,545,000. Finally, Lone Pine Capital LLC bought a new position in Alphabet in the third quarter valued at $407,367,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $167.24 on Friday. Alphabet Inc. has a fifty-two week low of $103.97 and a fifty-two week high of $174.71. The company has a 50 day simple moving average of $150.14 and a two-hundred day simple moving average of $142.32. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.57 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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. KeyCorp increased their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Morgan Stanley upped their price target on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Barclays upped their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Loop Capital upped their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.