MBL Wealth LLC Has $3.56 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MBL Wealth LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 23,615 shares of the information services provider’s stock after selling 251 shares during the period. MBL Wealth LLC’s holdings in Alphabet were worth $3,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP boosted its stake in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Finally, Macroview Investment Management LLC grew its holdings in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Redburn Atlantic raised their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Mizuho boosted their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Barclays increased their price objective on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BMO Capital Markets lifted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL traded up $15.95 during trading hours on Friday, reaching $171.95. 64,665,299 shares of the company traded hands, compared to its average volume of 25,802,202. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s fifty day moving average is $147.85 and its 200 day moving average is $141.39. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71. The stock has a market cap of $2.14 trillion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.