Key Client Fiduciary Advisors LLC Acquires 898 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Client Fiduciary Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,497 shares of the information services provider’s stock after purchasing an additional 898 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Alphabet were worth $1,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC lifted its position in Alphabet by 9.8% in 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 in the last quarter. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% during the fourth 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 buying an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on GOOGL shares. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. Finally, Citigroup increased their price target on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,270 shares of company stock valued at $26,553,563 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 1.7%

Shares of GOOGL opened at $166.18 on Wednesday. The firm has a market cap of $2.02 trillion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a 50 day simple moving average of $159.26 and a two-hundred day simple moving average of $174.47.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. Alphabet’s payout ratio is presently 9.36%.

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.