Tower View Wealth Management LLC Has $2.89 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tower View Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,672 shares of the information services provider’s stock after buying an additional 161 shares during the quarter. Alphabet makes up approximately 1.8% of Tower View Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Tower View Wealth Management LLC’s holdings in Alphabet were worth $2,888,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after purchasing an additional 335,219 shares during the period. American Century Companies Inc. grew its stake in Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC increased its holdings in Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. Truist Financial increased their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. TD Cowen raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush raised their target price on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus boosted their price target on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Performance

NASDAQ GOOGL opened at $169.96 on Friday. The company has a market capitalization of $2.10 trillion, a P/E ratio of 26.07, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $107.93 and a 52-week high of $174.71. The company has a fifty day moving average of $152.06 and a 200-day moving average of $143.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations 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 business earned $1.17 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.