WealthTrak Capital Management LLC Invests $110,000 in Alphabet Inc. (NASDAQ:GOOGL)

WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, HoldingsChannel reports. The fund acquired 583 shares of the information services provider’s stock, valued at approximately $110,000.

Other hedge funds also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp lifted its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $145.60 on Monday. The firm has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $145.38 and a one year high of $207.05. The business has a fifty day moving average of $175.15 and a 200 day moving average of $176.93.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. KeyCorp lowered their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Piper Sandler cut their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, UBS Group set a $190.00 price objective on Alphabet in a research report on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock valued at $21,089,470 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet 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.