Forefront Wealth Management Inc. Invests $4.58 Million in Alphabet Inc. (NASDAQ:GOOGL)

Forefront Wealth Management Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,204 shares of the information services provider's stock, valued at approximately $4,582,000. Alphabet accounts for approximately 4.2% of Forefront Wealth Management Inc.'s portfolio, making the stock its 7th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Bennett Selby Investments LP increased its position in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its holdings in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. UBS Group set a $190.00 price target on shares of Alphabet in a research report on Thursday, March 27th. Finally, Bank of America reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Ten 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.13.

Alphabet Stock Down 1.7 %

Alphabet stock traded down $2.58 during midday trading on Friday, reaching $148.14. The stock had a trading volume of 32,465,894 shares, compared to its average volume of 27,496,080. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm's fifty day simple moving average is $176.24 and its 200-day simple moving average is $176.77. 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 Inc. has a 1-year low of $144.48 and a 1-year high of $207.05.

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, topping 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%. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business's 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 transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,297 shares of company stock valued at $15,936,270. 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.