Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Swisher Financial Concepts Inc.

Swisher Financial Concepts Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,297 shares of the information services provider’s stock after acquiring an additional 640 shares during the period. Alphabet accounts for approximately 0.8% of Swisher Financial Concepts Inc.’s portfolio, making the stock its 23rd largest position. Swisher Financial Concepts Inc.’s holdings in Alphabet were worth $974,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the fourth quarter worth about $30,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp boosted its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Mizuho cut their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Citigroup increased their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. 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 company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,270 shares of company stock worth $26,553,563. 11.64% of the stock is owned by insiders.

Alphabet Trading Down 1.6%

Shares of GOOGL opened at $169.03 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $159.18 and a 200-day simple moving average of $174.53. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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 net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.