Hobbs Wealth Management LLC Buys Shares of 2,747 Alphabet Inc. (NASDAQ:GOOGL)

Hobbs Wealth Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,747 shares of the information services provider’s stock, valued at approximately $520,000. Alphabet makes up approximately 0.6% of Hobbs Wealth Management LLC’s portfolio, making the stock its 21st biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at approximately $39,000. PayPay Securities Corp grew its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in Alphabet during the fourth quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $156.31 on Wednesday. The company has a 50-day moving average price of $167.17 and a two-hundred day moving average price of $176.14. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock worth $20,286,447 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. KeyCorp decreased their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company decreased their price target on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group reduced their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.72.

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.