Abacus Wealth Partners LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Abacus Wealth Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,108 shares of the information services provider’s stock after purchasing an additional 120 shares during the period. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $38,000. Meritage Group LP increased its holdings in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its stake in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 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 Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,958 shares of company stock valued at $22,383,553. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Tigress Financial increased their price objective on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Loop Capital increased their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, TD Cowen increased their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

Alphabet Trading Up 1.2 %

GOOGL stock traded up $2.10 during trading on Friday, hitting $178.40. The company had a trading volume of 9,051,563 shares, compared to its average volume of 28,626,594. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 27.04, a PEG ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $180.41. The company has a 50 day simple moving average of $169.61 and a 200-day simple moving average of $152.06. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the firm posted $1.17 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.