Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 44,263 shares of the information services provider’s stock after buying an additional 1,450 shares during the quarter. Alphabet accounts for about 6.6% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 5th biggest position. Blodgett Wealth Advisors LLC’s holdings in Alphabet were worth $8,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $39,000. Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet in the third quarter worth $66,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. KeyCorp lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 in the last quarter. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $183.61 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company’s fifty day moving average price is $192.18 and its 200-day moving average price is $174.89. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company has a market capitalization of $2.25 trillion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts anticipate that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.