Hobbs Group Advisors LLC Buys 3,987 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hobbs Group Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 50.1% in the fourth quarter, Holdings Channel reports. The firm owned 11,946 shares of the information services provider’s stock after acquiring an additional 3,987 shares during the quarter. Alphabet comprises approximately 0.8% of Hobbs Group Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Hobbs Group Advisors LLC’s holdings in Alphabet were worth $2,261,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Community Bank N.A. lifted its stake in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Absolute Capital Management LLC raised its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after buying an additional 258 shares during the period. Permanent Capital Management LP bought a new stake in Alphabet in the fourth quarter valued at approximately $273,000. Glass Wealth Management Co LLC boosted its stake in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 1,580 shares during the period. Finally, Olistico Wealth LLC increased its holdings in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after acquiring an additional 746 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now 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 119,797 shares of company stock worth $21,089,470 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 3.4 %

Shares of NASDAQ GOOGL opened at $145.60 on Monday. The company has a 50 day simple moving average of $175.15 and a 200 day simple moving average of $176.93. 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 1 year low of $145.38 and a 1 year high of $207.05. The firm has a market cap of $1.77 trillion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

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 the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Piper Sandler lowered their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. KeyCorp reduced their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.