Aurora Private Wealth Inc. Makes New $2.41 Million Investment in Alphabet Inc. $GOOG

Aurora Private Wealth Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 7,666 shares of the information services provider’s stock, valued at approximately $2,406,000. Alphabet makes up 1.6% of Aurora Private Wealth Inc.’s holdings, making the stock its 15th largest position.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after buying an additional 8,128,234 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after buying an additional 7,904,434 shares during the period. Alliancebernstein L.P. raised its position in shares of Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after buying an additional 2,209,203 shares during the period. Legal & General Group Plc raised its position in shares of Alphabet by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock worth $7,935,671,000 after buying an additional 223,743 shares during the period. Finally, Capital World Investors raised its position in shares of Alphabet by 1.9% in the 3rd quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock worth $6,971,769,000 after buying an additional 539,679 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. TD Cowen increased their price target on Alphabet from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $370.00 price target on shares of Alphabet in a report on Tuesday, January 20th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $362.73.

Read Our Latest Analysis on GOOG

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 158,553 shares of company stock valued at $47,951,856. 12.99% of the stock is currently owned by insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 0.8%

Shares of Alphabet stock opened at $383.82 on Wednesday. The business has a 50-day moving average of $321.91 and a 200-day moving average of $314.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $4.65 trillion, a PE ratio of 29.28, a P/E/G ratio of 1.58 and a beta of 1.25. Alphabet Inc. has a 1-year low of $157.58 and a 1-year high of $398.37.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s payout ratio is 6.41%.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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