HBK Sorce Advisory LLC Purchases 2,016 Shares of Alphabet Inc. (NASDAQ:GOOGL)

HBK Sorce Advisory LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,399 shares of the information services provider's stock after buying an additional 2,016 shares during the period. Alphabet makes up 0.4% of HBK Sorce Advisory LLC's investment portfolio, making the stock its 29th largest holding. HBK Sorce Advisory LLC's holdings in Alphabet were worth $11,812,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pettinga Financial Advisors LLC raised its stake in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after buying an additional 201 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider's stock valued at $120,834,000 after acquiring an additional 46,677 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in shares of Alphabet by 26.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider's stock worth $1,377,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Round Rock Advisors LLC lifted its holdings in shares of Alphabet by 7.5% in the 3rd quarter. Round Rock Advisors LLC now owns 9,324 shares of the information services provider's stock worth $1,546,000 after purchasing an additional 649 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

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Alphabet Stock Performance

GOOGL stock traded down $4.42 during midday trading on Wednesday, reaching $166.14. 13,643,897 shares of the company's stock traded hands, compared to its average volume of 30,132,676. The firm has a market capitalization of $2.03 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50-day moving average price of $181.72 and a two-hundred day moving average price of $176.86. Alphabet Inc. has a 52 week low of $147.21 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 1,368 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reissued an "outperform" rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Finally, DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $210.59.

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.