Investor s Fiduciary Advisor Network LLC Makes New $593,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Investor s Fiduciary Advisor Network LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,137 shares of the information services provider’s stock, valued at approximately $593,000.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Regent Peak Wealth Advisors LLC lifted its stake in shares of Alphabet by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock valued at $4,455,000 after purchasing an additional 207 shares during the period. Wealth Group Ltd. boosted its holdings in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares in the last quarter. Czech National Bank grew its position in Alphabet by 6.2% during the fourth quarter. Czech National Bank now owns 1,267,139 shares of the information services provider’s stock worth $239,869,000 after buying an additional 73,598 shares during the period. Finally, Paragon Advisors LLC increased its holdings in Alphabet by 20.9% in the fourth quarter. Paragon Advisors LLC now owns 29,759 shares of the information services provider’s stock valued at $5,633,000 after buying an additional 5,148 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL opened at $152.75 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $158.93 and a 200 day simple moving average of $175.18.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Bank of America lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $199.75.

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.