Tower Wealth Partners Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Tower Wealth Partners Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 29.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,607 shares of the information services provider’s stock after purchasing an additional 369 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Alphabet were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Schear Investment Advisers LLC grew its position in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Permanent Capital Management LP purchased a new stake in shares of Alphabet during the fourth quarter valued at $273,000. Landscape Capital Management L.L.C. increased its stake in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the period. Glass Wealth Management Co LLC increased its stake in Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares during the period. Finally, Olistico Wealth LLC lifted its holdings in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $163.99 on Friday. The stock has a market cap of $2.00 trillion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm has a fifty day moving average price of $182.57 and a 200 day moving average price of $176.51. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOGL shares. JPMorgan Chase & Co. reduced their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup lowered their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Roth Mkm reissued a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 11.55% of the company’s stock.

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.