Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lifted by CFM Wealth Partners LLC

CFM Wealth Partners LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,674 shares of the information services provider’s stock after buying an additional 1,076 shares during the quarter. Alphabet accounts for approximately 3.6% of CFM Wealth Partners LLC’s holdings, making the stock its 3rd biggest holding. CFM Wealth Partners LLC’s holdings in Alphabet were worth $20,517,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Rockbridge Capital Management LLC bought a new stake in Alphabet in the fourth quarter valued at $3,119,000. Optivise Advisory Services LLC boosted its holdings in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. boosted its holdings in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Falcon Wealth Planning boosted its holdings in Alphabet by 15.7% in the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider’s stock valued at $1,531,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its holdings in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after acquiring an additional 14,262 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last quarter. 11.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Truist Financial restated a “buy” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Price Performance

GOOGL opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company’s 50-day simple moving average is $168.36 and its two-hundred day simple moving average is $174.08. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

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.