Mountain Pacific Investment Advisers Inc. ID Buys 1,300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mountain Pacific Investment Advisers Inc. ID grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 46.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,110 shares of the information services provider’s stock after acquiring an additional 1,300 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Alphabet were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. RWQ Financial Management Services Inc. increased its holdings in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Robbins Farley grew its position in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after buying an additional 118 shares in the last quarter. Quantum Financial Advisors LLC increased its stake in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in shares of Alphabet by 3.8% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after acquiring an additional 100 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Alphabet by 2.4% in the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Evercore ISI lifted their price target on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the stock 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Stock Up 0.4 %

GOOGL opened at $167.24 on Friday. The company has a fifty day moving average of $150.14 and a two-hundred day moving average of $142.32. The stock has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $103.97 and a fifty-two 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 2.15.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 10th.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

About Alphabet

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.