Navellier & Associates Inc. Purchases 4,779 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Navellier & Associates Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 104.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,355 shares of the information services provider’s stock after purchasing an additional 4,779 shares during the period. Navellier & Associates Inc.’s holdings in Alphabet were worth $1,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sonata Capital Group Inc. boosted its position in Alphabet by 5.1% during the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock valued at $487,000 after purchasing an additional 180 shares in the last quarter. Ramsay Stattman Vela & Price Inc. boosted its holdings in shares of Alphabet by 0.4% in the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 38,270 shares of the information services provider’s stock valued at $5,008,000 after buying an additional 140 shares in the last quarter. Bordeaux Wealth Advisors LLC grew its position in shares of Alphabet by 6.0% in the 3rd quarter. Bordeaux Wealth Advisors LLC now owns 107,788 shares of the information services provider’s stock worth $14,105,000 after buying an additional 6,063 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Alphabet by 6.4% during the 3rd quarter. Grove Bank & Trust now owns 26,092 shares of the information services provider’s stock worth $3,414,000 after acquiring an additional 1,574 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Alphabet by 3.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 762,477 shares of the information services provider’s stock valued at $99,778,000 after acquiring an additional 25,964 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Roth Mkm boosted their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Down 0.8 %

GOOGL stock opened at $176.38 on Thursday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50-day simple moving average of $159.52 and a 200-day simple moving average of $146.20. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.36 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 10th.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last three months. 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.