Alphabet Inc. $GOOG Stake Raised by Burling Wealth Partners LLC

Burling Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,730 shares of the information services provider’s stock after purchasing an additional 4,636 shares during the quarter. Alphabet accounts for 2.7% of Burling Wealth Partners LLC’s holdings, making the stock its 8th largest holding. Burling Wealth Partners LLC’s holdings in Alphabet were worth $17,488,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC raised its stake in shares of Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after purchasing an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth $658,000. Financial Advisors Network Inc. lifted its stake in shares of Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its holdings in shares of Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after buying an additional 3,616 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial set a $385.00 price objective on shares of Alphabet in a research note on Wednesday, April 22nd. Oppenheimer raised their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Pivotal Research reiterated a “buy” rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $372.65.

Check Out Our Latest Stock Report on GOOG

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 226,481 shares of company stock valued at $27,422,061. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $376.43 on Friday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The stock has a market cap of $4.56 trillion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. The business has a fifty day moving average of $343.28 and a 200-day moving average of $324.30. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the previous year, the firm posted $2.81 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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