CreativeOne Wealth LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

CreativeOne Wealth LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,200 shares of the information services provider’s stock after buying an additional 3,760 shares during the quarter. CreativeOne Wealth LLC’s holdings in Alphabet were worth $4,777,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. L.M. Kohn & Company lifted its holdings in shares of Alphabet by 3.3% in the fourth quarter. L.M. Kohn & Company now owns 47,079 shares of the information services provider’s stock worth $6,576,000 after buying an additional 1,515 shares in the last quarter. Quest Partners LLC purchased a new position in Alphabet during the 4th quarter valued at approximately $1,533,000. Corient Private Wealth LLC grew its holdings in Alphabet by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 5,302,698 shares of the information services provider’s stock valued at $740,671,000 after buying an additional 97,598 shares in the last quarter. D.A. Davidson & CO. increased its stake in Alphabet by 3.3% in the 4th quarter. D.A. Davidson & CO. now owns 391,601 shares of the information services provider’s stock worth $54,703,000 after acquiring an additional 12,581 shares during the last quarter. Finally, Sachetta LLC bought a new stake in Alphabet in the fourth quarter worth $302,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Tigress Financial increased their price target on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday. Barclays raised their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Canaccord Genuity Group boosted their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Mizuho raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.57.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,935 shares of company stock valued at $31,178,987. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.8 %

Alphabet stock opened at $174.99 on Monday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $178.77. The business has a fifty day moving average price of $160.81 and a 200-day moving average price of $146.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 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 company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the business posted $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.