Tumwater Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Tumwater Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, Holdings Channel reports. The fund bought 2,500 shares of the information services provider’s stock, valued at approximately $473,000. Alphabet accounts for about 0.2% of Tumwater Wealth Management LLC’s holdings, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Envestnet Portfolio Solutions Inc. increased its position in Alphabet by 6.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 468,443 shares of the information services provider’s stock valued at $88,676,000 after purchasing an additional 29,303 shares during the period. Ascent Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $789,000. Ironsides Asset Advisors LLC raised its stake in Alphabet by 32.1% in the fourth quarter. Ironsides Asset Advisors LLC now owns 2,951 shares of the information services provider’s stock worth $559,000 after buying an additional 717 shares in the last quarter. Hutchinson Capital Management CA raised its stake in Alphabet by 1.3% in the fourth quarter. Hutchinson Capital Management CA now owns 146,795 shares of the information services provider’s stock worth $27,788,000 after buying an additional 1,885 shares in the last quarter. Finally, Long Walk Management LP bought a new stake in Alphabet during the 4th quarter valued at approximately $20,101,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Citigroup lowered their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, KeyCorp dropped their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine 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 target price of $210.59.

Alphabet Stock Down 1.7 %

NASDAQ GOOGL opened at $162.24 on Friday. The stock’s 50-day moving average price is $180.49 and its 200-day moving average price is $176.68. The company has a market capitalization of $1.98 trillion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,812 shares of company stock worth $19,336,979 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.