Lantern Wealth Advisors LLC Purchases 651 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lantern Wealth Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,383 shares of the information services provider’s stock after buying an additional 651 shares during the quarter. Alphabet makes up about 2.0% of Lantern Wealth Advisors LLC’s holdings, making the stock its 14th largest position. Lantern Wealth Advisors LLC’s holdings in Alphabet were worth $3,102,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp raised its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $49,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $166.54 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a 50 day moving average of $158.20 and a two-hundred day moving average of $175.00. The firm has a market capitalization of $2.02 trillion, a PE ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.50%. 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. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,744 shares of company stock worth $20,968,366. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOGL shares. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Cantor Fitzgerald cut their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Stifel Nicolaus lowered their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, KeyCorp upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.