Hennion & Walsh Asset Management Inc. Has $11.71 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Hennion & Walsh Asset Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,577 shares of the information services provider’s stock after purchasing an additional 3,970 shares during the quarter. Alphabet comprises about 0.6% of Hennion & Walsh Asset Management Inc.’s portfolio, making the stock its 23rd biggest position. Hennion & Walsh Asset Management Inc.’s holdings in Alphabet were worth $11,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Nova Scotia raised its holdings in shares of Alphabet by 6.4% during the third quarter. Bank of Nova Scotia now owns 2,742,194 shares of the information services provider’s stock valued at $358,842,000 after purchasing an additional 165,662 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its position in Alphabet by 15.5% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,169,929 shares of the information services provider’s stock valued at $283,957,000 after buying an additional 291,334 shares in the last quarter. Fernbridge Capital Management LP raised its stake in Alphabet by 47.3% during the 3rd quarter. Fernbridge Capital Management LP now owns 319,086 shares of the information services provider’s stock worth $41,756,000 after buying an additional 102,477 shares during the period. Cape Cod Five Cents Savings Bank boosted its holdings in Alphabet by 99.2% in the third quarter. Cape Cod Five Cents Savings Bank now owns 23,892 shares of the information services provider’s stock worth $3,127,000 after acquiring an additional 11,897 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its stake in Alphabet by 9.8% in the third quarter. CWA Asset Management Group LLC now owns 44,798 shares of the information services provider’s stock valued at $5,862,000 after acquiring an additional 4,010 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.5 %

Shares of Alphabet stock opened at $182.99 on Tuesday. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 28.07, a P/E/G ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. 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 stock’s 50-day simple moving average is $172.85 and its 200 day simple moving average is $154.44.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following 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 three months, insiders sold 142,344 shares of company stock worth $23,920,676. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 target price (down from $182.00) on shares of Alphabet in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday. Wolfe Research lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Robert W. Baird lifted their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $193.66.

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.