Woodmont Investment Counsel LLC Has $3.93 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Woodmont Investment Counsel LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,063 shares of the information services provider’s stock after acquiring an additional 1,630 shares during the period. Woodmont Investment Counsel LLC’s holdings in Alphabet were worth $3,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. LaSalle St. Investment Advisors LLC increased its holdings in Alphabet by 6.5% in the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 5,896 shares of the information services provider’s stock valued at $771,000 after buying an additional 360 shares during the period. Lone Pine Capital LLC bought a new position in Alphabet in the third quarter valued at approximately $407,367,000. Lake Street Advisors Group LLC raised its position in Alphabet by 13.2% during the third quarter. Lake Street Advisors Group LLC now owns 67,197 shares of the information services provider’s stock valued at $8,793,000 after purchasing an additional 7,860 shares in the last quarter. Kiwi Wealth Investments Limited Partnership bought a new stake in Alphabet during the third quarter worth $63,679,000. Finally, Key Client Fiduciary Advisors LLC boosted its holdings in shares of Alphabet by 3.3% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 9,720 shares of the information services provider’s stock valued at $1,272,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Canaccord Genuity Group boosted their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho increased their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Barclays boosted their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

View Our Latest Research Report on Alphabet

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $190.60 on Friday. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 29.23, a P/E/G ratio of 1.40 and a beta of 1.05. The firm’s 50-day moving average price is $175.43 and its 200-day moving average price is $155.98. 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 1-year low of $115.35 and a 1-year high of $190.86.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the business earned $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is owned by corporate insiders.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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