Joel Isaacson & Co. LLC Has $74.09 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Joel Isaacson & Co. LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,103 shares of the information services provider’s stock after purchasing an additional 1,537 shares during the quarter. Alphabet accounts for 3.4% of Joel Isaacson & Co. LLC’s investment portfolio, making the stock its 8th largest position. Joel Isaacson & Co. LLC’s holdings in Alphabet were worth $74,089,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Anderson Financial Strategies LLC bought a new position in Alphabet in the 4th quarter valued at $49,000. EQ Wealth Advisors LLC purchased a new position in shares of Alphabet during the 1st quarter valued at $49,000. Navigoe LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $51,000. Prudent Man Investment Management Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $53,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $57,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $179.08 on Friday. The business’s 50-day moving average price is $168.70 and its two-hundred day moving average price is $173.97. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the company earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed 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 was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.95.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by insiders.

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.