Mystic Asset Management Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mystic Asset Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,663 shares of the information services provider’s stock after acquiring an additional 1,677 shares during the period. Alphabet accounts for about 1.4% of Mystic Asset Management Inc.’s holdings, making the stock its 13th biggest position. Mystic Asset Management Inc.’s holdings in Alphabet were worth $5,047,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Leelyn Smith LLC increased its stake in Alphabet by 1.4% in the 4th quarter. Leelyn Smith LLC now owns 41,055 shares of the information services provider’s stock valued at $7,772,000 after buying an additional 556 shares during the period. RD Lewis Holdings Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $573,000. Haven Capital Group Inc. purchased a new position in Alphabet during the fourth quarter worth about $4,750,000. Aspen Wealth Strategies LLC lifted its position in Alphabet by 5.7% in the fourth quarter. Aspen Wealth Strategies LLC now owns 14,260 shares of the information services provider’s stock valued at $2,699,000 after purchasing an additional 763 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in Alphabet by 0.4% in the 4th quarter. Tocqueville Asset Management L.P. now owns 834,106 shares of the information services provider’s stock valued at $157,896,000 after purchasing an additional 3,297 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $154.33 on Friday. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $179.66 and its 200-day simple moving average is $176.92.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Wolfe Research increased their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is owned by corporate insiders.

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.