Lakeridge Wealth Management LLC Purchases 62 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lakeridge Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,940 shares of the information services provider’s stock after buying an additional 62 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Alphabet were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. International Assets Investment Management LLC increased its position in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Alphabet in the 3rd quarter worth $513,024,000. Finally, Geode Capital Management LLC raised its position in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.6 %

Shares of NASDAQ GOOGL opened at $168.27 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50 day moving average price is $191.00 and its 200-day moving average price is $176.06. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a market cap of $2.05 trillion, a PE ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,188 shares of company stock valued at $25,036,883 over the last ninety days. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Cantor Fitzgerald decreased their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Citigroup cut their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company 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.