Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Fragasso Group Inc.

Fragasso Group Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,368 shares of the information services provider’s stock after buying an additional 172 shares during the period. Alphabet makes up about 1.1% of Fragasso Group Inc.’s holdings, making the stock its 16th biggest holding. Fragasso Group Inc.’s holdings in Alphabet were worth $13,337,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. RWQ Financial Management Services Inc. lifted its holdings in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management raised its position in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley lifted its stake in shares of Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $787,000. Finally, Quantum Financial Advisors LLC grew its stake in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $179.63 on Friday. The stock has a market cap of $2.22 trillion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $170.05 and a 200-day simple moving average of $152.41.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the company posted $1.17 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold 135,958 shares of company stock worth $22,383,553 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. KeyCorp upped their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Wells Fargo & Company upped their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Citigroup boosted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. UBS Group raised their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Truist Financial increased their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five equities research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

About Alphabet

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.