LGL Partners LLC Has $2.50 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

LGL Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 17,860 shares of the information services provider’s stock after purchasing an additional 152 shares during the quarter. Alphabet comprises 0.3% of LGL Partners LLC’s holdings, making the stock its 27th biggest position. LGL Partners LLC’s holdings in Alphabet were worth $2,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. RWQ Financial Management Services Inc. lifted its holdings in shares of Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the last quarter. Robbins Farley increased its position in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares during the period. Quantum Financial Advisors LLC increased its position in Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. Colton Groome Financial Advisors LLC boosted its holdings in Alphabet by 3.8% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after purchasing an additional 100 shares during the period. Finally, Acadian Asset Management LLC grew its position in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $171.25 on Wednesday. The business’s 50-day simple moving average is $151.40 and its 200 day simple moving average is $142.83. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.27, a P/E/G 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 issued its 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the firm earned $1.17 EPS. As a group, research analysts anticipate 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. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Citigroup upped their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. TD Cowen lifted their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Oppenheimer upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 252,629 shares of company stock valued at $37,091,240. Company insiders own 0.88% of the company’s stock.

Alphabet 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.