8,104 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 8,104 shares of the information services provider’s stock, valued at approximately $1,223,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $38,000. Meritage Group LP boosted its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the period. Finally, Macroview Investment Management LLC boosted its position in shares of 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 buying an additional 199 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 253,289 shares of company stock worth $36,724,534 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Wolfe Research increased their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Rosenblatt Securities increased their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.74.

Alphabet Stock Performance

GOOGL traded down $3.37 during midday trading on Tuesday, reaching $162.78. The company’s stock had a trading volume of 33,503,634 shares, compared to its average volume of 30,866,035. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $148.80 and a 200 day simple moving average of $141.79. The stock has a market cap of $2.02 trillion, a P/E ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. Alphabet Inc. has a twelve month low of $103.71 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the business posted $1.17 EPS. Research analysts expect that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.49%.

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.