Morey & Quinn Wealth Partners LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Morey & Quinn Wealth Partners LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,982 shares of the information services provider’s stock, valued at approximately $564,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares in the last quarter. America First Investment Advisors LLC raised its stake in shares of Alphabet by 0.6% during the third quarter. America First Investment Advisors LLC now owns 140,442 shares of the information services provider’s stock worth $23,292,000 after acquiring an additional 843 shares in the last quarter. German American Bancorp Inc. lifted its holdings in shares of Alphabet by 6.9% in the 3rd quarter. German American Bancorp Inc. now owns 201,974 shares of the information services provider’s stock worth $33,497,000 after acquiring an additional 12,966 shares during the last quarter. Makena Capital Management LLC boosted its stake in shares of Alphabet by 0.3% in the 3rd quarter. Makena Capital Management LLC now owns 91,834 shares of the information services provider’s stock valued at $15,231,000 after purchasing an additional 314 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Alphabet by 29.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 5,189 shares of the information services provider’s stock valued at $861,000 after purchasing an additional 1,181 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. DA Davidson raised their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley lowered their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Down 3.4 %

NASDAQ:GOOGL opened at $145.60 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 has a market cap of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $145.38 and a fifty-two week high of $207.05. The firm has a 50-day simple moving average of $175.15 and a two-hundred day simple moving average of $176.68.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 over the last ninety days. Insiders own 11.55% of the company’s stock.

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.