Millstone Evans Group LLC Invests $1.72 Million in Alphabet Inc. (NASDAQ:GOOGL)

Millstone Evans Group LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,073 shares of the information services provider's stock, valued at approximately $1,718,000. Alphabet comprises about 1.2% of Millstone Evans Group LLC's investment portfolio, making the stock its 14th biggest holding.

Several other hedge funds have also modified their holdings of GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC lifted its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after buying an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 3.4 %

Shares of NASDAQ:GOOGL traded down $5.12 during trading on Friday, reaching $145.60. The stock had a trading volume of 62,123,086 shares, compared to its average volume of 27,597,046. The firm's 50-day simple moving average is $175.15 and its 200 day simple moving average is $176.81. The company has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a one year low of $145.38 and a one year high of $207.05.

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Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is 9.94%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wedbush increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Rosenblatt Securities reissued a "neutral" rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, KeyCorp reduced their target price on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Ten investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.13.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,690 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares of the company's stock, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is owned by insiders.

About Alphabet

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.