Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 19.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,241 shares of the information services provider’s stock after buying an additional 3,558 shares during the quarter. Alphabet comprises approximately 0.9% of Drive Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Drive Wealth Management LLC’s holdings in Alphabet were worth $3,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. Richardson Capital Management LLC lifted its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares in the last quarter. Finally, Meritage Group LP lifted its position 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 in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. JMP Securities increased their target price on Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday. Raymond James increased their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Cowen raised their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 10.2 %

NASDAQ GOOGL traded up $15.95 during trading on Friday, hitting $171.95. The stock had a trading volume of 64,665,299 shares, compared to its average volume of 25,802,202. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $147.85 and a 200 day moving average price of $141.42. Alphabet Inc. has a twelve month low of $103.54 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

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.