Birchcreek Wealth Management LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Birchcreek Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,730 shares of the information services provider’s stock after buying an additional 899 shares during the period. Birchcreek Wealth Management LLC’s holdings in Alphabet were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meritage Group LP lifted its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC lifted its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC lifted its position in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC lifted its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet during the fourth quarter valued at $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.5 %

Shares of NASDAQ:GOOGL opened at $168.10 on Tuesday. Alphabet Inc. has a 1 year low of $105.16 and a 1 year high of $174.71. The business has a 50 day simple moving average of $150.75 and a two-hundred day simple moving average of $142.58. The firm has a market capitalization of $2.08 trillion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. KeyCorp lifted their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Wells Fargo & Company lifted their target price on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. BMO Capital Markets raised their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, April 26th. UBS Group raised their price target on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Evercore ISI raised their price target on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last 90 days. Company insiders own 0.88% of the company’s stock.

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.