Heritage Investment Group Inc. Purchases 400 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Heritage Investment Group Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,128 shares of the information services provider’s stock after acquiring an additional 400 shares during the period. Heritage Investment Group Inc.’s holdings in Alphabet were worth $484,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Wealth Group Ltd. lifted its position in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares during the period. Eagle Capital Management LLC lifted its position in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC lifted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Alphabet during the fourth quarter valued at approximately $154,716,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on 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 owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’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 transaction of $5,553,275.00. Following the sale, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock worth $36,330,928 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Wells Fargo & Company increased their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Finally, Mizuho decreased their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Price Performance

Shares of GOOGL opened at $179.08 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $2.17 trillion, a PE ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The firm has a 50-day simple moving average of $168.70 and a two-hundred day simple moving average of $173.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the business posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

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.