World Investment Advisors Boosts Stake in Alphabet Inc. $GOOGL

World Investment Advisors raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,761 shares of the information services provider’s stock after acquiring an additional 23,107 shares during the quarter. Alphabet makes up about 1.3% of World Investment Advisors’ investment portfolio, making the stock its 8th biggest position. World Investment Advisors’ holdings in Alphabet were worth $78,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its position in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank grew its position in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after purchasing an additional 3,120 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $380.34 on Monday. The firm has a market cap of $4.61 trillion, a P/E ratio of 29.01, a P/E/G ratio of 1.63 and a beta of 1.23. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $345.77 and a 200 day moving average of $325.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Monday, May 4th. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Thursday, April 30th. Tigress Financial set a $415.00 price objective on Alphabet and gave the company a “strong-buy” rating in a research report on Thursday, February 19th. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Phillip Securities raised their price objective on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $412.94.

Get Our Latest Report on Alphabet

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,369 shares of company stock valued at $27,388,127 in the last quarter. 11.61% of the stock is currently owned by insiders.

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Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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