Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,725 shares of the information services provider’s stock after purchasing an additional 5,191 shares during the quarter. Alphabet accounts for 2.2% of Independence Bank of Kentucky’s holdings, making the stock its 8th biggest position. Independence Bank of Kentucky’s holdings in Alphabet were worth $13,875,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. Macroview Investment Management LLC raised its holdings in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after buying an additional 52 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the last quarter. Addison Advisors LLC grew its position in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 53 shares during the last quarter. Burt Wealth Advisors raised its stake in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after acquiring an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its holdings in shares of Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.3%

NASDAQ GOOGL opened at $173.68 on Friday. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a 50 day simple moving average of $160.14 and a 200 day simple moving average of $174.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $140.53 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business earned $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share 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 paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last ninety days. 11.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group set a $195.00 price target on shares of Alphabet in a report on Friday, April 25th. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Bank of America boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Tigress Financial raised their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Truist Financial reduced their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet 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.