Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 274,979 shares of the information services provider’s stock after buying an additional 18,196 shares during the quarter. Alphabet accounts for 3.1% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 5th largest holding. Fulton Breakefield Broenniman LLC’s holdings in Alphabet were worth $38,412,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in shares of Alphabet by 7.2% in the 4th quarter. Citizens Financial Group Inc. RI now owns 244,332 shares of the information services provider’s stock valued at $34,131,000 after buying an additional 16,336 shares during the period. Total Investment Management Inc. acquired a new stake in Alphabet in the fourth quarter valued at $219,000. IAG Wealth Partners LLC boosted its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID increased its holdings in shares of Alphabet by 46.3% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 4,110 shares of the information services provider’s stock valued at $574,000 after purchasing an additional 1,300 shares in the last quarter. Finally, KFA Private Wealth Group LLC increased its holdings in shares of Alphabet by 18.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 4,296 shares of the information services provider’s stock valued at $600,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $167.24 on Friday. The company has a 50 day moving average of $150.14 and a two-hundred day moving average of $142.32. Alphabet Inc. has a 52-week low of $103.97 and a 52-week high of $174.71. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.08 trillion, a P/E ratio of 25.65, a P/E/G ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm earned $1.17 EPS. On average, analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wolfe Research upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. UBS Group lifted their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wedbush increased their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last 90 days. 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.