Clarity Wealth Development LLC Makes New $273,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Clarity Wealth Development LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel reports. The firm bought 1,340 shares of the information services provider’s stock, valued at approximately $273,000.

Other hedge funds have also recently made changes to their positions in the company. Compass Planning Associates Inc purchased a new position in Alphabet in the fourth quarter worth about $30,000. 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. raised its holdings in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at approximately $39,000. Finally, PayPay Securities Corp boosted its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 4.9 %

Alphabet stock opened at $154.33 on Friday. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The firm’s 50 day moving average price is $179.66 and its 200-day moving average price is $176.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $1.88 trillion, a P/E ratio of 19.17, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,812 shares of company stock worth $19,336,979 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. DA Davidson upped their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Rosenblatt Securities restated a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, KeyCorp cut their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.59.

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.