Rafferty Asset Management LLC Purchases 66,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Rafferty Asset Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 632,198 shares of the information services provider’s stock after buying an additional 66,500 shares during the quarter. Rafferty Asset Management LLC’s holdings in Alphabet were worth $88,312,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Aire Advisors LLC boosted its position in shares of Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after buying an additional 68 shares in the last quarter. Defined Wealth Management LLC grew its position 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 valued at $354,000 after purchasing an additional 71 shares during the last quarter. WealthCare Investment Partners LLC raised its position in shares of Alphabet by 2.1% during the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after purchasing an additional 71 shares during the last quarter. Peoples Financial Services CORP. lifted its stake in Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after buying an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC grew its holdings in Alphabet by 1.0% during the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after buying an additional 73 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $175.41 on Thursday. The company has a market capitalization of $2.17 trillion, a P/E ratio of 26.90, a PEG ratio of 1.31 and a beta of 1.01. The firm has a 50 day simple moving average of $164.82 and a 200-day simple moving average of $149.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,835 shares of company stock worth $32,177,952. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOOGL shares. Argus lifted their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Raymond James upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their price target on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Mizuho lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Truist Financial raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” 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 stock presently has an average rating of “Moderate Buy” and an average price target of $191.57.

Read Our Latest Stock Analysis on GOOGL

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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