Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,237 shares of the information services provider’s stock after buying an additional 1,766 shares during the period. Alphabet accounts for approximately 1.8% of Stockman Wealth Management Inc.’s holdings, making the stock its 20th largest holding. Stockman Wealth Management Inc.’s holdings in Alphabet were worth $8,834,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Carolina Wealth Advisors LLC raised its holdings in shares of Alphabet by 37.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 613 shares of the information services provider’s stock worth $80,000 after purchasing an additional 166 shares during the period. Howland Capital Management LLC raised its holdings in shares of Alphabet by 15.5% in the 3rd quarter. Howland Capital Management LLC now owns 548,551 shares of the information services provider’s stock worth $71,783,000 after purchasing an additional 73,781 shares during the period. Argus Investors Counsel Inc. raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. Argus Investors Counsel Inc. now owns 28,698 shares of the information services provider’s stock worth $3,755,000 after purchasing an additional 91 shares during the period. New Hampshire Trust raised its holdings in shares of Alphabet by 3.8% in the 3rd quarter. New Hampshire Trust now owns 43,206 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 1,578 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC raised its holdings in shares of Alphabet by 7.9% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 41,293 shares of the information services provider’s stock worth $5,404,000 after purchasing an additional 3,008 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL opened at $162.78 on Wednesday. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. The stock has a 50 day moving average of $148.80 and a 200-day moving average of $141.79. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $103.71 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 analyst estimates of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Argus raised their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group raised their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. JMP Securities raised their target price on Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, April 26th. BMO Capital Markets raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Wedbush raised their target price on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $189.74.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 253,289 shares of company stock worth $36,724,534 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

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.