Paragon Private Wealth Management LLC Has $3.18 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Paragon Private Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,771 shares of the information services provider’s stock after acquiring an additional 1,032 shares during the quarter. Alphabet accounts for 2.2% of Paragon Private Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Paragon Private Wealth Management LLC’s holdings in Alphabet were worth $3,181,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. RWQ Financial Management Services Inc. lifted its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management lifted its position in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley lifted its position in Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the period. Quantum Financial Advisors LLC lifted its position in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.8% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after purchasing an additional 100 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $168.08, for a total value of $252,120.00. Following the transaction, the director now owns 4,391 shares in the company, valued at approximately $738,039.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,935 shares of company stock worth $31,178,987. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $174.99 on Friday. The business’s 50-day simple moving average is $160.81 and its 200 day simple moving average is $146.81. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the business earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several brokerages recently commented on GOOGL. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Loop Capital increased their price objective on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada increased their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Oppenheimer increased their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Mizuho increased their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.57.

Alphabet Profile

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.