Topsail Wealth Management LLC Has $1.62 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Topsail Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 52.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,486 shares of the information services provider’s stock after buying an additional 3,628 shares during the period. Topsail Wealth Management LLC’s holdings in Alphabet were worth $1,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Advisory Solutions LLC lifted its position in Alphabet by 7.5% during the 1st quarter. Wealth Advisory Solutions LLC now owns 8,506 shares of the information services provider’s stock valued at $1,315,000 after purchasing an additional 594 shares during the period. Twelve Points Wealth Management LLC increased its stake in Alphabet by 6.6% during the 1st quarter. Twelve Points Wealth Management LLC now owns 6,410 shares of the information services provider’s stock worth $991,000 after purchasing an additional 399 shares in the last quarter. OMC Financial Services LTD increased its stake in Alphabet by 2.0% during the 1st quarter. OMC Financial Services LTD now owns 33,060 shares of the information services provider’s stock worth $5,112,000 after purchasing an additional 637 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Alphabet by 2.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 35,322 shares of the information services provider’s stock worth $5,462,000 after acquiring an additional 758 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Alphabet by 32.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 3,153 shares of the information services provider’s stock worth $490,000 after acquiring an additional 772 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Citigroup reaffirmed a “buy” rating and set a $203.00 price target (up previously from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $175.00 to $177.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.82.

Alphabet Price Performance

Shares of GOOGL opened at $182.00 on Wednesday. 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 business’s 50 day moving average price is $171.04 and its two-hundred day moving average price is $173.13. The firm has a market cap of $2.21 trillion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm 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 quarter in the previous year, the company posted $1.89 earnings per share. On average, equities 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. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was 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 approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,943 shares of company stock worth $31,223,348 in the last quarter. 11.55% of the stock is currently owned by company 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.