Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Mountain Pacific Investment Advisers Inc. ID

Mountain Pacific Investment Advisers Inc. ID grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,521 shares of the information services provider’s stock after purchasing an additional 411 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Alphabet were worth $682,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. Meritage Group LP grew its holdings in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the period. Finally, IAG Wealth Partners LLC grew its holdings in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Roth Mkm raised their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Truist Financial increased their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.26.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The stock was 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 directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. 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. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $179.63 on Monday. The business’s 50 day moving average price is $170.05 and its 200 day moving average price is $152.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.85.

Alphabet (NASDAQ:GOOGL) last posted its 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 return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

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 $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s payout ratio is presently 12.27%.

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.