Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by GPM Growth Investors Inc.

GPM Growth Investors Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,877 shares of the information services provider’s stock after selling 529 shares during the period. Alphabet makes up approximately 5.7% of GPM Growth Investors Inc.’s holdings, making the stock its 4th biggest position. GPM Growth Investors Inc.’s holdings in Alphabet were worth $12,136,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meritage Group LP raised its stake in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the last quarter. Macroview Investment Management LLC boosted its position in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC increased its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Loop Capital upped their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Truist Financial upped their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Canaccord Genuity Group lifted their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wedbush boosted their price target on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Evercore ISI raised their price objective on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 252,629 shares of company stock worth $37,091,240 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $171.25 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock’s fifty day moving average is $151.40 and its 200 day moving average is $142.83. The firm has a market capitalization of $2.12 trillion, a PE ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $105.16 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

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.