AssuredPartners Investment Advisors LLC Invests $7.88 Million in Alphabet Inc. (NASDAQ:GOOGL)

AssuredPartners Investment Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel reports. The firm purchased 41,606 shares of the information services provider’s stock, valued at approximately $7,876,000. Alphabet accounts for approximately 1.5% of AssuredPartners Investment Advisors LLC’s investment portfolio, making the stock its 9th biggest position.

Several other institutional investors have also recently bought and sold shares of GOOGL. Community Bank N.A. boosted its stake in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Absolute Capital Management LLC boosted its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after acquiring an additional 258 shares during the last quarter. Permanent Capital Management LP acquired a new stake in Alphabet during the 4th quarter worth $273,000. Glass Wealth Management Co LLC raised its position in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC lifted its stake in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 3.4 %

Shares of NASDAQ:GOOGL opened at $145.60 on Friday. Alphabet Inc. has a 52-week low of $145.38 and a 52-week high of $207.05. 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 company has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a 50-day simple moving average of $175.15 and a 200 day simple moving average of $176.81.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Wedbush upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. 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. 11.55% of the stock is currently owned by company insiders.

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.