Provence Wealth Management Group increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,399 shares of the information services provider’s stock after acquiring an additional 4,199 shares during the quarter. Alphabet comprises approximately 1.2% of Provence Wealth Management Group’s portfolio, making the stock its 21st biggest position. Provence Wealth Management Group’s holdings in Alphabet were worth $2,291,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Knuff & Co LLC raised its holdings in Alphabet by 17.1% in the 4th quarter. Knuff & Co LLC now owns 13,610 shares of the information services provider’s stock worth $1,901,000 after purchasing an additional 1,990 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $94,311,000. W Advisors LLC raised its stake in Alphabet by 5.5% in the fourth quarter. W Advisors LLC now owns 4,685 shares of the information services provider’s stock worth $654,000 after buying an additional 245 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Alphabet by 4.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 172,177 shares of the information services provider’s stock worth $23,505,000 after buying an additional 7,689 shares during the period. Finally, Signature Resources Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $569,000. Institutional investors own 40.03% of the company’s stock.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the sale, the director now owns 7,164 shares in the company, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 in the last 90 days. 0.88% of the stock is currently owned by insiders.
Alphabet Stock Performance
Shares of GOOGL opened at $168.65 on Friday. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.87, a PEG ratio of 1.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $114.41 and a one year high of $174.71. The business has a fifty day moving average of $153.32 and a 200 day moving average of $143.42.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%.
Analyst Ratings Changes
GOOGL has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. KeyCorp boosted their target price on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Redburn Atlantic lifted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Susquehanna lifted their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.60.
Read Our Latest Analysis on GOOGL
Alphabet Company Profile
(Free Report)
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.
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