Wall Street Financial Group Inc. Invests $223,000 in Alphabet Inc. (NASDAQ:GOOGL)

Wall Street Financial Group Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,443 shares of the information services provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the 4th quarter worth $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the 1st quarter worth $49,000. Navigoe LLC bought a new position in shares of Alphabet in the 4th quarter worth $51,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $53,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $57,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

NASDAQ:GOOGL opened at $179.08 on Friday. The firm has a market cap 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 has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a 50-day simple moving average of $168.70 and a two-hundred day simple moving average of $173.97.

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

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday. Susquehanna cut their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. JMP Securities raised shares of Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Finally, Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.95.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on 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 directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company’s stock, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last 90 days. 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.