First Fiduciary Investment Counsel Inc. Buys 308 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Fiduciary Investment Counsel Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,906 shares of the information services provider’s stock after purchasing an additional 308 shares during the period. First Fiduciary Investment Counsel Inc.’s holdings in Alphabet were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Bryn Mawr Capital Management LLC lifted its holdings in shares of Alphabet by 4.7% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 245,344 shares of the information services provider’s stock valued at $34,272,000 after acquiring an additional 10,960 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Alphabet by 33.6% in the 4th quarter. Stanley Laman Group Ltd. now owns 7,236 shares of the information services provider’s stock valued at $1,011,000 after acquiring an additional 1,819 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 10.2% in the 4th quarter. AM Investment Strategies LLC now owns 6,280 shares of the information services provider’s stock valued at $877,000 after acquiring an additional 580 shares during the last quarter. Evolution Advisers Inc. lifted its holdings in shares of Alphabet by 83.3% in the 4th quarter. Evolution Advisers Inc. now owns 1,320 shares of the information services provider’s stock valued at $182,000 after acquiring an additional 600 shares during the last quarter. Finally, Tandem Capital Management Corp ADV lifted its holdings in shares of Alphabet by 5.3% in the 4th quarter. Tandem Capital Management Corp ADV now owns 41,922 shares of the information services provider’s stock valued at $5,856,000 after acquiring an additional 2,101 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.4 %

NASDAQ GOOGL opened at $167.24 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.08 trillion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a 50 day moving average price of $149.67 and a 200 day moving average price of $142.12. Alphabet Inc. has a 52 week low of $103.97 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now 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 a total of 275,129 shares of company stock worth $40,382,765 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Truist Financial increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Evercore ISI increased their price target on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Company 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.