Lake Street Private Wealth LLC Purchases 2,063 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lake Street Private Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,331 shares of the information services provider’s stock after buying an additional 2,063 shares during the quarter. Alphabet makes up 1.0% of Lake Street Private Wealth LLC’s holdings, making the stock its 25th biggest holding. Lake Street Private Wealth LLC’s holdings in Alphabet were worth $5,927,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after buying an additional 7,574,417 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Susquehanna decreased their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group reduced their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Roth Mkm reissued a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Truist Financial reduced their price objective on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Trading Up 1.1%

Shares of GOOGL stock opened at $168.05 on Thursday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50-day simple moving average of $159.54 and a two-hundred day simple moving average of $174.43. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the firm earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,770 shares of company stock valued at $32,036,638. Insiders own 11.64% of the company’s stock.

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.