Magnus Financial Group LLC Purchases 593 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Magnus Financial Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,659 shares of the information services provider’s stock after purchasing an additional 593 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $4,003,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Aire Advisors LLC boosted its position in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the period. Defined Wealth Management LLC lifted its holdings in shares of Alphabet by 2.9% in the fourth 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 holdings in shares of Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after buying an additional 71 shares in the last quarter. Peoples Financial Services CORP. lifted 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 worth $2,331,000 after buying an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC lifted its holdings in shares of Alphabet by 1.0% in the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after buying an additional 73 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, April 26th. BMO Capital Markets boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wedbush boosted their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. 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 note on Friday, April 26th. Finally, Mizuho upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.60.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the sale, the director now directly owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock worth $40,382,765 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.5 %

NASDAQ GOOGL opened at $168.10 on Tuesday. The company’s 50-day moving average price is $150.75 and its 200-day moving average price is $142.58. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.08 trillion, a PE ratio of 25.78, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 12 month low of $105.16 and a 12 month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 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 for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the business posted $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

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 issued 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.

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.