Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,871 shares of the information services provider’s stock after buying an additional 7,767 shares during the period. Alphabet makes up 4.0% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 3rd biggest position. Roffman Miller Associates Inc. PA’s holdings in Alphabet were worth $64,156,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Harbour Trust & Investment Management Co raised its stake in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $3,119,000. Cypress Capital LLC raised its stake in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares during the period. Optivise Advisory Services LLC raised its stake in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after buying an additional 403 shares during the period. Finally, Community Bank N.A. raised its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Rosenblatt Securities reissued a “neutral” rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research note on Friday, June 27th. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $199.61.

Alphabet Price Performance

GOOGL opened at $180.19 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a market cap of $2.19 trillion, a P/E ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.00. The business has a fifty day moving average of $170.32 and a 200 day moving average of $173.31. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company’s stock, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last three months. 11.64% of the stock is owned by company insiders.

Alphabet 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.