Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Modera Wealth Management LLC

Modera Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,939 shares of the information services provider's stock after buying an additional 2,181 shares during the period. Modera Wealth Management LLC's holdings in Alphabet were worth $17,972,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOGL. Pettinga Financial Advisors LLC raised its holdings in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after purchasing an additional 201 shares during the period. Princeton Global Asset Management LLC increased its position in Alphabet by 5.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 62,452 shares of the information services provider's stock worth $10,358,000 after purchasing an additional 2,953 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in Alphabet by 1.5% in the third quarter. Clear Creek Financial Management LLC now owns 18,062 shares of the information services provider's stock valued at $2,996,000 after buying an additional 262 shares during the period. Conning Inc. lifted its position in Alphabet by 5.3% during the third quarter. Conning Inc. now owns 70,991 shares of the information services provider's stock valued at $11,774,000 after buying an additional 3,560 shares in the last quarter. Finally, Royal Harbor Partners LLC increased its position in shares of Alphabet by 1.6% in the third quarter. Royal Harbor Partners LLC now owns 18,881 shares of the information services provider's stock worth $3,131,000 after acquiring an additional 303 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $5.03 during midday trading on Wednesday, reaching $165.70. 19,334,186 shares of the company traded hands, compared to its average volume of 25,764,349. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02. 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 stock has a 50-day moving average price of $184.35 and a 200 day moving average price of $176.56. Alphabet Inc. has a 52 week low of $146.08 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed 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 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. Wolfe Research lifted their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Bank of America reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. Finally, Piper Sandler dropped their price objective on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.

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.