Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by McAlister Sweet & Associates Inc.

McAlister Sweet & Associates Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,943 shares of the information services provider’s stock after purchasing an additional 2,506 shares during the period. Alphabet accounts for 3.6% of McAlister Sweet & Associates Inc.’s investment portfolio, making the stock its 9th largest holding. McAlister Sweet & Associates Inc.’s holdings in Alphabet were worth $4,519,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. WealthPlan Investment Management LLC grew its stake in Alphabet by 17.0% during the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock worth $1,818,000 after buying an additional 2,017 shares during the period. Beverly Hills Private Wealth LLC grew its stake in Alphabet by 5.7% during the third quarter. Beverly Hills Private Wealth LLC now owns 9,674 shares of the information services provider’s stock worth $1,266,000 after buying an additional 520 shares during the period. Shepherd Financial Partners LLC lifted its position in shares of Alphabet by 13.3% during the third quarter. Shepherd Financial Partners LLC now owns 28,628 shares of the information services provider’s stock worth $3,746,000 after purchasing an additional 3,363 shares in the last quarter. Chase Investment Counsel Corp lifted its position in shares of Alphabet by 17.8% during the third quarter. Chase Investment Counsel Corp now owns 58,222 shares of the information services provider’s stock worth $7,618,000 after purchasing an additional 8,812 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of Alphabet by 2.5% during the third quarter. Bell Investment Advisors Inc now owns 8,763 shares of the information services provider’s stock worth $1,147,000 after purchasing an additional 216 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $25,731,103 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup increased their price target on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC increased their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wolfe Research increased their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Canaccord Genuity Group raised their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Stock Down 1.2 %

Shares of NASDAQ GOOGL traded down $2.15 during midday trading on Tuesday, hitting $175.09. 21,845,306 shares of the company’s stock were exchanged, compared to its average volume of 28,863,395. The company has a market cap of $2.16 trillion, a PE ratio of 26.93, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $180.41. The firm’s fifty day simple moving average is $168.53 and its 200-day simple moving average is $151.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.