Horizon Family Wealth Inc. Has $928,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Horizon Family Wealth Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,001 shares of the information services provider’s stock after buying an additional 374 shares during the quarter. Alphabet accounts for 0.6% of Horizon Family Wealth Inc.’s holdings, making the stock its 27th biggest holding. Horizon Family Wealth Inc.’s holdings in Alphabet were worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its stake in 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 period. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $3,119,000. Cypress Capital LLC grew its stake in 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 period. Finally, Optivise Advisory Services LLC grew its stake in 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 period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald raised their target price on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Citigroup raised their target price on Alphabet from $203.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Piper Sandler raised their target price on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.53.

Alphabet Stock Down 0.2%

Shares of GOOGL opened at $201.00 on Tuesday. The company has a market cap of $2.43 trillion, a PE ratio of 21.41, a P/E/G ratio of 1.36 and a beta of 1.01. The business has a fifty day moving average of $181.53 and a 200 day moving average of $172.81. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.