Fiduciary Financial Group LLC Has $1 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fiduciary Financial Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,563 shares of the information services provider’s stock after buying an additional 822 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Alphabet were worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter worth $30,000. PayPay Securities Corp grew its position in Alphabet by 36.1% in 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. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter worth $49,000. Navigoe LLC acquired a new stake in Alphabet in the 4th quarter worth $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet in the 4th quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, May 21st. Tigress Financial lifted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Westpark Capital reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Finally, Bank of America lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Trading Up 1.4%

GOOGL opened at $178.60 on Wednesday. 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 company has a market cap of $2.17 trillion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm has a 50 day simple moving average of $161.08 and a 200 day simple moving average of $174.49. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

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 shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the 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 transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

About Alphabet

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.