Aletheian Wealth Advisors LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Aletheian Wealth Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,623 shares of the information services provider’s stock after acquiring an additional 723 shares during the period. Aletheian Wealth Advisors LLC’s holdings in Alphabet were worth $1,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Alphabet during the 4th quarter worth approximately $24,383,677,000. FMR LLC boosted its stake in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC grew its holdings in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Citigroup boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Cantor Fitzgerald lowered their target price on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. DA Davidson reduced their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Down 1.2%

GOOGL stock opened at $169.73 on Friday. The company has a 50 day moving average of $159.10 and a two-hundred day moving average of $174.56. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,533 shares of company stock worth $26,772,774. Insiders own 11.55% of the company’s stock.

Alphabet 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.