NorthRock Partners LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

NorthRock Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,423 shares of the information services provider’s stock after buying an additional 4,850 shares during the period. Alphabet makes up 0.9% of NorthRock Partners LLC’s holdings, making the stock its 19th biggest position. NorthRock Partners LLC’s holdings in Alphabet were worth $9,139,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jackson Square Partners LLC increased its position in Alphabet by 14.7% during the fourth quarter. Jackson Square Partners LLC now owns 91,426 shares of the information services provider’s stock worth $12,771,000 after purchasing an additional 11,711 shares during the last quarter. Greenup Street Wealth Management LLC increased its position in Alphabet by 12.6% during the fourth quarter. Greenup Street Wealth Management LLC now owns 50,730 shares of the information services provider’s stock worth $7,087,000 after purchasing an additional 5,669 shares during the last quarter. German American Bancorp Inc. increased its position in Alphabet by 2.6% during the fourth quarter. German American Bancorp Inc. now owns 179,480 shares of the information services provider’s stock worth $25,072,000 after purchasing an additional 4,617 shares during the last quarter. WT Wealth Management acquired a new stake in Alphabet during the fourth quarter worth about $270,000. Finally, New Century Financial Group LLC acquired a new stake in Alphabet during the fourth quarter worth about $2,675,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.6 %

Shares of NASDAQ:GOOGL opened at $173.55 on Friday. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.62, a P/E/G 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 twelve month low of $115.35 and a twelve month high of $178.77. The firm has a 50 day simple moving average of $160.13 and a 200-day simple moving average of $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, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm earned $1.17 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.61 EPS 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 $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Argus lifted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Evercore ISI lifted their price target on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 205,935 shares of company stock valued at $31,178,987 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.