New Wave Wealth Advisors LLC Has $1.14 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

New Wave Wealth Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,349 shares of the information services provider’s stock after purchasing an additional 891 shares during the period. New Wave Wealth Advisors LLC’s holdings in Alphabet were worth $1,136,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC acquired a new stake in Alphabet during the 4th quarter valued at $49,000. EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $51,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $53,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $179.08 on Friday. The business has a 50 day simple moving average of $168.70 and a 200 day simple moving average of $173.87. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company earned $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. JMP Securities raised shares of Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 price target for the company in a report on Friday, June 27th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Finally, Stifel Nicolaus lowered their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.95.

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.