Lifelong Wealth Advisors Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Lifelong Wealth Advisors Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,375 shares of the information services provider’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Community Bank N.A. raised its position in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd raised its holdings in Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Absolute Capital Management LLC lifted its position in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares during the period. Permanent Capital Management LP purchased a new stake in Alphabet in the 4th quarter valued at approximately $273,000. Finally, Glass Wealth Management Co LLC increased its position in Alphabet by 4.5% during 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 purchasing an additional 1,580 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $151.08 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a 50 day moving average price of $165.14 and a 200 day moving average price of $175.77.

Alphabet (NASDAQ:GOOGL) last issued 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 return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on GOOGL shares. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.74.

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.