Investor s Fiduciary Advisor Network LLC Buys 1,031 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Investor s Fiduciary Advisor Network LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 32.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,168 shares of the information services provider’s stock after acquiring an additional 1,031 shares during the period. Investor s Fiduciary Advisor Network LLC’s holdings in Alphabet were worth $644,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Harbour Trust & Investment Management Co grew its holdings in shares of Alphabet by 0.3% during 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 purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC grew its holdings in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Optivise Advisory Services LLC grew its holdings in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Finally, Community Bank N.A. grew its holdings in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.4%

NASDAQ:GOOGL opened at $180.19 on Friday. 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 company has a market cap of $2.19 trillion, a PE ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a 50-day simple moving average of $170.32 and a 200 day simple moving average of $173.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the company earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS 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%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOGL shares. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Bank of America upped their price target on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.61.

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 the firm’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 value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. 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 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.