Strive Asset Management LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Strive Asset Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,152 shares of the information services provider’s stock, valued at approximately $218,000.

Several other hedge funds have also modified their holdings of the stock. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOOGL shares. Wedbush set a $190.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Tuesday, May 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. KeyCorp lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was 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 $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the business’s 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.4%

Shares of GOOGL stock opened at $166.19 on Monday. 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 $140.53 and a 1 year high of $207.05. The stock has a fifty day moving average of $158.21 and a two-hundred day moving average of $175.04. The firm has a market capitalization of $2.02 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

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.