BTS Asset Management Inc. Invests $485,000 in Alphabet Inc. (NASDAQ:GOOGL)

BTS Asset Management Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,561 shares of the information services provider's stock, valued at approximately $485,000. Alphabet accounts for approximately 0.5% of BTS Asset Management Inc.'s holdings, making the stock its 14th biggest position.

Other large investors have also made changes to their positions in the company. LMR Partners LLP acquired a new position in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC lifted its holdings in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company's stock, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company's stock, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Robert W. Baird reissued an "outperform" rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Finally, Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.15.

Alphabet Stock Up 1.0 %

Alphabet stock traded up $2.05 during trading on Tuesday, reaching $198.05. The stock had a trading volume of 29,356,516 shares, compared to its average volume of 23,514,902. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The stock has a market cap of $2.42 trillion, a PE ratio of 26.27, a P/E/G ratio of 1.26 and a beta of 0.98. The business has a 50 day moving average price of $184.74 and a 200 day moving average price of $173.33.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

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.