1776 Wealth LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

1776 Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,245 shares of the information services provider’s stock after acquiring an additional 454 shares during the quarter. Alphabet comprises about 1.7% of 1776 Wealth LLC’s portfolio, making the stock its 11th biggest position. 1776 Wealth LLC’s holdings in Alphabet were worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GOOGL. Bennett Selby Investments LP grew its stake in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC grew its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. grew its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after acquiring an additional 53 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. Wedbush lifted their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents 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 at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $167.68 on Tuesday. The company has a market cap of $2.04 trillion, a P/E ratio of 20.83, a P/E/G ratio of 1.34 and a beta of 1.02. 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. The stock has a 50-day moving average of $182.10 and a two-hundred day moving average of $176.73.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

About Alphabet

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.