Independent Advisor Alliance Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Independent Advisor Alliance lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 284,919 shares of the information services provider's stock after buying an additional 32,599 shares during the period. Alphabet comprises 0.7% of Independent Advisor Alliance's portfolio, making the stock its 19th largest holding. Independent Advisor Alliance's holdings in Alphabet were worth $53,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Schear Investment Advisers LLC boosted its holdings in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Permanent Capital Management LP bought a new position in Alphabet during the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. raised its stake in Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after buying an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC increased its position in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC boosted its position in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock worth $1,700,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

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Alphabet Price Performance

Shares of GOOGL traded down $5.50 during mid-day trading on Wednesday, reaching $165.06. 28,552,871 shares of the company's stock were exchanged, compared to its average volume of 25,889,569. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $181.72 and a two-hundred day simple moving average of $176.86. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 1,368 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. Insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOOGL. Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. DZ Bank downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $210.59.

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.