Insight Wealth Strategies LLC Purchases 2,119 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Insight Wealth Strategies LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,615 shares of the information services provider’s stock after purchasing an additional 2,119 shares during the period. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $3,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Davis Capital Management raised its holdings in Alphabet by 8.7% in the 1st quarter. Davis Capital Management now owns 1,473 shares of the information services provider’s stock worth $229,000 after purchasing an additional 118 shares during the period. CWM LLC raised its stake in shares of Alphabet by 12.2% in the first quarter. CWM LLC now owns 798,165 shares of the information services provider’s stock worth $120,467,000 after buying an additional 87,036 shares during the period. Moody National Bank Trust Division lifted its position in shares of Alphabet by 1.1% during the 1st quarter. Moody National Bank Trust Division now owns 55,092 shares of the information services provider’s stock valued at $8,315,000 after buying an additional 607 shares in the last quarter. Moseley Investment Management Inc. grew its stake in shares of Alphabet by 2.3% during the 1st quarter. Moseley Investment Management Inc. now owns 39,812 shares of the information services provider’s stock valued at $6,009,000 after acquiring an additional 894 shares during the period. Finally, Advance Capital Management Inc. increased its holdings in Alphabet by 9.8% in the 1st quarter. Advance Capital Management Inc. now owns 9,179 shares of the information services provider’s stock worth $1,385,000 after acquiring an additional 818 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.2 %

GOOGL traded down $2.15 during trading on Wednesday, hitting $175.09. The stock had a trading volume of 21,869,857 shares, compared to its average volume of 21,406,588. The stock has a 50 day simple moving average of $168.90 and a two-hundred day simple moving average of $151.73. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.85, a PEG ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $180.41.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,958 shares of company stock worth $22,383,553. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Tigress Financial boosted their price objective on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Jefferies Financial Group boosted their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Bank of America restated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. UBS Group boosted their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Barclays raised their target price on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

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.