BIP Wealth LLC Has $7.11 Million Holdings in Alphabet Inc. $GOOGL

BIP Wealth LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,728 shares of the information services provider’s stock after buying an additional 10,383 shares during the quarter. BIP Wealth LLC’s holdings in Alphabet were worth $7,114,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in Alphabet during the 3rd quarter worth $416,217,000. Griffin Asset Management Inc. increased its position in Alphabet by 13.9% during the 3rd quarter. Griffin Asset Management Inc. now owns 58,731 shares of the information services provider’s stock worth $14,277,000 after buying an additional 7,180 shares during the period. Sovran Advisors LLC increased its position in Alphabet by 23.6% during the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock worth $5,401,000 after buying an additional 4,241 shares during the period. Wright Investors Service Inc. increased its position in Alphabet by 21.2% during the 3rd quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider’s stock worth $12,171,000 after buying an additional 8,746 shares during the period. Finally, CIBC Asset Management Inc increased its position in Alphabet by 3.8% during the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock worth $405,131,000 after buying an additional 60,831 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director owned 4,631 shares in the company, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,069,794 shares of company stock worth $104,854,147. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $341.68 on Monday. The firm has a market cap of $4.13 trillion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Alphabet Inc. has a 52-week low of $146.10 and a 52-week high of $349.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The business’s fifty day moving average is $306.82 and its 200-day moving average is $302.17.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.25. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is currently 7.77%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. UBS Group set a $348.00 price objective on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, February 5th. President Capital increased their price objective on Alphabet from $323.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Barclays reiterated an “overweight” rating and set a $360.00 price objective (up from $315.00) on shares of Alphabet in a research report on Thursday, February 5th. Daiwa Securities Group increased their price objective on Alphabet from $333.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Alphabet from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.25.

Read Our Latest Analysis on GOOGL

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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