Hopwood Financial Services Inc. Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Hopwood Financial Services Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,017 shares of the information services provider's stock, valued at approximately $950,000. Alphabet accounts for approximately 0.7% of Hopwood Financial Services Inc.'s portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Proficio Capital Partners LLC raised its stake in Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. Amundi grew its position in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after buying an additional 4,694,621 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet in the 3rd quarter valued at approximately $513,024,000. Finally, Geode Capital Management LLC raised its holdings in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, 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 sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the 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 sale, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. KeyCorp dropped their price target on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $210.59.

Alphabet Stock Down 3.2 %

Shares of GOOGL traded down $5.50 during midday trading on Wednesday, hitting $165.06. The stock had a trading volume of 28,889,147 shares, compared to its average volume of 25,905,073. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05. The company has a 50 day simple moving average of $181.11 and a two-hundred day simple moving average of $176.78.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

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.