Congress Wealth Management LLC DE Has $55.71 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Congress Wealth Management LLC DE raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,268 shares of the information services provider's stock after acquiring an additional 84,950 shares during the quarter. Alphabet makes up approximately 0.8% of Congress Wealth Management LLC DE's portfolio, making the stock its 21st biggest position. Congress Wealth Management LLC DE's holdings in Alphabet were worth $55,705,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Compass Planning Associates Inc purchased a new position in Alphabet in the fourth quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% in 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 purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC increased its holdings 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 last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

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Alphabet Trading Down 4.0 %

Shares of GOOGL traded down $6.32 during midday trading on Thursday, hitting $150.72. The stock had a trading volume of 46,763,615 shares, compared to its average volume of 27,471,312. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The business has a 50-day simple moving average of $177.19 and a two-hundred day simple moving average of $176.95. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.84 trillion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,297 shares of company stock worth $15,936,270. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Robert W. Baird restated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Roth Mkm reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. KeyCorp decreased their target price on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on Alphabet from $232.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $209.13.

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.