Parkworth Wealth Management Inc. Makes New $74,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Parkworth Wealth Management Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 388 shares of the information services provider’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Proficio Capital Partners LLC lifted its holdings in shares of Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Amundi lifted its holdings in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet in the 3rd quarter worth $513,024,000. Finally, Geode Capital Management LLC lifted its holdings in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. DA Davidson boosted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Bank of America reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $163.99 on Monday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The stock’s 50-day simple moving average is $182.57 and its 200 day simple moving average is $176.65. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

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.