Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 36.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,918 shares of the information services provider’s stock after purchasing an additional 5,069 shares during the quarter. Concord Wealth Partners’ holdings in Alphabet were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. increased its stake in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the last quarter. Robbins Farley grew its holdings in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the period. Quantum Financial Advisors LLC grew its holdings in Alphabet by 8.0% in the 3rd 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 increased its stake in shares of Alphabet by 3.8% during 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 acquiring an additional 100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Alphabet by 2.4% during 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 acquiring an additional 104,366 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. Susquehanna upped their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. TD Cowen increased their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wolfe Research boosted their price target on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wedbush upped their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $169.96 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a one year low of $107.93 and a one year high of $174.71. The stock has a 50-day simple moving average of $152.06 and a 200 day simple moving average of $143.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company 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 last year, the firm earned $1.17 EPS. Sell-side analysts predict 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were 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 approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is currently owned by insiders.

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.