Fox Hill Wealth Management Acquires 422 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fox Hill Wealth Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,240 shares of the information services provider’s stock after purchasing an additional 422 shares during the quarter. Fox Hill Wealth Management’s holdings in Alphabet were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $15,441,917,000. Fisher Asset Management LLC increased its holdings in shares of Alphabet by 3.4% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alphabet by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after acquiring an additional 874,919 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Alphabet by 2.3% during the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after acquiring an additional 686,514 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Morgan Stanley reissued an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Mizuho increased their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. UBS Group increased their price target on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Wolfe Research increased their price target on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Stock Performance

Shares of GOOGL opened at $185.24 on Wednesday. The stock’s 50-day simple moving average is $173.38 and its 200 day simple moving average is $154.80. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,788 shares of company stock valued at $21,143,403. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.