Warner Financial Inc. Acquires New Shares in Alphabet Inc. $GOOGL

Warner Financial Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 5,440 shares of the information services provider’s stock, valued at approximately $1,703,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PMV Capital Advisers LLC acquired a new position in Alphabet during the 4th quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet during the 3rd quarter worth about $53,000. iSAM Funds UK Ltd acquired a new position in Alphabet during the 3rd quarter worth about $53,000. Corsicana & Co. acquired a new position in Alphabet during the 3rd quarter worth about $54,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet during the 3rd quarter worth about $63,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Activity at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the transaction, the chief executive officer directly owned 2,818,524 shares in the company, valued at approximately $856,605,814.08. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,069,794 shares of company stock valued at $104,854,147 in the last ninety days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $341.68 on Friday. The company has a fifty day moving average of $306.82 and a 200-day moving average of $301.36. The firm has a market capitalization of $4.13 trillion, a P/E ratio of 31.61, a P/E/G ratio of 2.07 and a beta of 1.12. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a twelve month low of $146.10 and a twelve month high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.25. The company had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is currently 7.77%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Arete Research lifted their target price on Alphabet from $380.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Moffett Nathanson lifted their target price on Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Jefferies Financial Group lifted their target price on Alphabet from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Barclays reaffirmed an “overweight” rating and set a $360.00 target price (up from $315.00) on shares of Alphabet in a report on Thursday, February 5th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $385.00 target price on shares of Alphabet in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.25.

Read Our Latest Stock Analysis on GOOGL

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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