Atlas Wealth LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Atlas Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,360 shares of the information services provider’s stock after acquiring an additional 400 shares during the quarter. Atlas Wealth LLC’s holdings in Alphabet were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC lifted its position in Alphabet by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after purchasing an additional 757,138 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock worth $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. JPMorgan Chase & Co. lowered their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wolfe Research raised their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Finally, Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.49.

Alphabet Trading Up 1.6 %

GOOGL opened at $157.07 on Wednesday. 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 firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The stock has a fifty day moving average price of $178.01 and a 200-day moving average price of $177.09.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 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%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,665 shares of company stock valued at $16,198,310 in the last three months. 11.55% of the stock is owned by 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.