New Insight Wealth Advisors Acquires 384 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Insight Wealth Advisors boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 17,720 shares of the information services provider’s stock after purchasing an additional 384 shares during the period. Alphabet makes up about 1.7% of New Insight Wealth Advisors’ investment portfolio, making the stock its 16th biggest holding. New Insight Wealth Advisors’ holdings in Alphabet were worth $3,354,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 2.0% during the third 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 acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Alphabet by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after acquiring an additional 757,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alphabet by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after acquiring an additional 1,218,639 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Wolfe Research boosted their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, KeyCorp reduced their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Price Performance

NASDAQ GOOGL opened at $163.99 on Friday. The company has a market cap of $2.00 trillion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $182.57 and its two-hundred day simple moving average is $176.51.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Transactions at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

About Alphabet

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.