Lighthouse Financial Services Inc. ADV Purchases Shares of 23,906 Alphabet Inc. $GOOGL

Lighthouse Financial Services Inc. ADV purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,906 shares of the information services provider’s stock, valued at approximately $7,483,000. Alphabet accounts for about 1.7% of Lighthouse Financial Services Inc. ADV’s holdings, making the stock its 16th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Symmetry Partners LLC raised its holdings in shares of Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after purchasing an additional 30 shares during the period. Members Trust Co raised its holdings in shares of Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 31 shares during the period. Altfest L J & Co. Inc. raised its holdings in shares of Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after purchasing an additional 31 shares during the period. Insight 2811 Inc. raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after purchasing an additional 32 shares during the period. Finally, Lifelong Wealth Advisors Inc. raised its holdings in shares of Alphabet by 1.9% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock worth $541,000 after purchasing an additional 33 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the sale, the director directly owned 3,581 shares in the company, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,481 shares of company stock worth $27,422,061 over the last quarter. Insiders own 11.61% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Susquehanna reiterated a “positive” rating and set a $460.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Barclays reiterated an “overweight” rating and set a $405.00 price target (up from $360.00) on shares of Alphabet in a research note on Thursday, April 30th. Roth Mkm reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research note on Monday, February 16th. Finally, Evercore increased their price target on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $412.65.

Get Our Latest Analysis on Alphabet

Alphabet Stock Up 1.5%

Shares of NASDAQ GOOGL opened at $388.88 on Wednesday. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The business has a 50-day simple moving average of $341.07 and a two-hundred day simple moving average of $323.00. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.71 trillion, a P/E ratio of 29.66, a P/E/G ratio of 1.64 and a beta of 1.26.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its 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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is 6.71%.

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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