Richardson Capital Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Richardson Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 87.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300 shares of the information services provider’s stock after acquiring an additional 140 shares during the period. Richardson Capital Management LLC’s holdings in Alphabet were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $38,000. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the 4th 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 last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOGL shares. Citigroup raised their target price on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Robert W. Baird increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. KeyCorp boosted their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOGL opened at $185.82 on Thursday. The company has a market capitalization of $2.30 trillion, a PE ratio of 28.50, a P/E/G ratio of 1.37 and a beta of 1.05. 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 $186.09. The business’s fifty day simple moving average is $173.92 and its 200-day simple moving average is $155.17.

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, 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 return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock worth $21,143,403 over the last three months. Corporate insiders own 11.55% of the company’s stock.

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.