PSI Advisors LLC Acquires 400 Shares of Alphabet Inc. (NASDAQ:GOOGL)

PSI Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,716 shares of the information services provider’s stock after acquiring an additional 400 shares during the period. PSI Advisors LLC’s holdings in Alphabet were worth $1,637,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GOOGL. RWQ Financial Management Services Inc. grew its holdings in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the period. Robbins Farley boosted its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares in the last quarter. Ballast Advisors LLC grew its position in shares of Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares during the period. Quantum Financial Advisors LLC lifted its position in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC boosted its stake in Alphabet by 3.8% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after acquiring an additional 100 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 253,209 shares of company stock worth $36,711,144 in the last three months. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JMP Securities upped their price target on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday. Mizuho increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research note on Friday. Jefferies Financial Group boosted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. Finally, Susquehanna increased their target price on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $189.44.

Alphabet Trading Down 3.4 %

Shares of Alphabet stock opened at $166.15 on Tuesday. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a fifty day moving average of $148.36 and a 200 day moving average of $141.62.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the business earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

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.