PUREfi Wealth LLC Buys New Stake in Alphabet Inc. (NASDAQ:GOOGL)

PUREfi Wealth LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,555 shares of the information services provider’s stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clarity Wealth Advisors LLC grew its holdings in Alphabet by 0.6% in the third quarter. Clarity Wealth Advisors LLC now owns 51,640 shares of the information services provider’s stock valued at $8,565,000 after purchasing an additional 304 shares during the period. Meridiem Investment Management Ltd. lifted its position in shares of Alphabet by 2.2% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 678,543 shares of the information services provider’s stock valued at $112,562,000 after buying an additional 14,789 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its stake in Alphabet by 3.5% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 9,714 shares of the information services provider’s stock valued at $1,611,000 after acquiring an additional 329 shares during the period. Integris Wealth Management LLC grew its stake in Alphabet by 18.1% in the 3rd quarter. Integris Wealth Management LLC now owns 2,171 shares of the information services provider’s stock valued at $360,000 after acquiring an additional 333 shares during the period. Finally, Etesian Wealth Advisors Inc. increased its holdings in Alphabet by 3.9% in the 3rd quarter. Etesian Wealth Advisors Inc. now owns 8,384 shares of the information services provider’s stock worth $1,391,000 after acquiring an additional 312 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock worth $25,055,751 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $172.73 on Thursday. The firm’s 50 day moving average is $191.40 and its 200-day moving average is $176.11. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Wolfe Research lifted their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Evercore ISI boosted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.