Alexander Randolph Advisory Inc. Invests $3.56 Million in Alphabet Inc. (NASDAQ:GOOGL)

Alexander Randolph Advisory Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel reports. The fund purchased 25,511 shares of the information services provider’s stock, valued at approximately $3,564,000. Alphabet accounts for 3.2% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 10th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Roof Eidam Maycock Peralta LLC purchased a new position in Alphabet in the third quarter worth $215,000. Riversedge Advisors LLC grew its position in Alphabet by 37.9% in the third quarter. Riversedge Advisors LLC now owns 8,608 shares of the information services provider’s stock worth $1,126,000 after acquiring an additional 2,368 shares in the last quarter. Marshall Financial Group LLC grew its position in Alphabet by 8.3% in the third quarter. Marshall Financial Group LLC now owns 3,285 shares of the information services provider’s stock worth $430,000 after acquiring an additional 251 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Alphabet by 5.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 22,308 shares of the information services provider’s stock worth $2,919,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Asset Planning Services Inc. LA ADV grew its position in Alphabet by 1.9% in the third quarter. Asset Planning Services Inc. LA ADV now owns 41,230 shares of the information services provider’s stock worth $5,395,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet 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 transaction, 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 the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the 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 sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the 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 owns 2,332,691 shares in the company, 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOGL. KeyCorp upped their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Susquehanna upped their price target on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Piper Sandler restated an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. 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. Finally, Oppenheimer upped their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.