Pathway Financial Advisors LLC Buys 300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pathway Financial Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,680 shares of the information services provider’s stock after purchasing an additional 300 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Alphabet were worth $1,008,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. FMR LLC raised its holdings in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. Norges Bank bought a new stake in Alphabet during the 4th quarter valued at $15,441,917,000. Northern Trust Corp raised its holdings in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after acquiring an additional 1,472,043 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John Kent Walker sold 12,084 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,958 shares of company stock valued at $22,383,553. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $179.63 on Friday. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company has a 50-day moving average price of $170.05 and a 200-day moving average price of $152.41. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.85.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm posted $1.17 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. Wedbush boosted their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Mizuho boosted their target price on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Barclays boosted their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.26.

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.