Allegheny Financial Group LTD Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Allegheny Financial Group LTD grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,788 shares of the information services provider’s stock after acquiring an additional 1,840 shares during the period. Alphabet comprises about 0.6% of Allegheny Financial Group LTD’s investment portfolio, making the stock its 29th biggest position. Allegheny Financial Group LTD’s holdings in Alphabet were worth $1,786,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOGL. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter worth $38,000. Meritage Group LP lifted its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Armor Investment Advisors LLC boosted its stake 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 buying an additional 80 shares during the last quarter. IAG Wealth Partners LLC grew its holdings in Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after buying an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in Alphabet in the 4th quarter worth approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.6 %

Shares of NASDAQ GOOGL opened at $173.55 on Friday. The stock has a market capitalization of $2.14 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The stock’s fifty day simple moving average is $160.13 and its two-hundred day simple moving average is $146.39.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the company earned $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, 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 transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock worth $31,178,987 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. TD Cowen increased their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. KeyCorp upped their target price on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Loop Capital lifted their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

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.