Flagship Wealth Advisors LLC Takes $724,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Flagship Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,680 shares of the information services provider’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC raised its position in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE raised its position in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC boosted its position in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after purchasing an additional 13,564 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Piper Sandler upped their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Tigress Financial upped their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Wedbush upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. JMP Securities upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 24th. Finally, Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Alphabet Stock Up 0.5%

GOOGL opened at $202.94 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s fifty day moving average is $183.65 and its 200-day moving average is $173.30. The company has a market capitalization of $2.45 trillion, a PE ratio of 21.61, a P/E/G ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer directly owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,819 shares of company stock valued at $49,796,547. 11.64% of the stock is owned by insiders.

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.