Waterfront Wealth Inc. Has $4.68 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Waterfront Wealth Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,289 shares of the information services provider’s stock after buying an additional 245 shares during the quarter. Alphabet accounts for about 1.1% of Waterfront Wealth Inc.’s holdings, making the stock its 18th biggest position. Waterfront Wealth Inc.’s holdings in Alphabet were worth $4,684,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Addison Advisors LLC increased its position in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after buying an additional 53 shares during the period. Burt Wealth Advisors grew its stake in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after acquiring an additional 54 shares in the last quarter. Perritt Capital Management Inc grew its stake in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC increased its holdings in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after acquiring an additional 59 shares during the period. Finally, Hanlon Investment Management Inc. lifted its stake in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after purchasing an additional 60 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. KeyCorp boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. BMO Capital Markets restated an “outperform” rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. BNP Paribas Exane restated a “neutral” rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Wells Fargo & Company lifted their price target on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company’s 50 day moving average price is $168.70 and its 200-day moving average price is $173.97. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last 90 days. Insiders own 11.64% 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.