Key Client Fiduciary Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Client Fiduciary Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,497 shares of the information services provider’s stock after acquiring an additional 898 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Alphabet were worth $1,623,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Compass Planning Associates Inc acquired a new position in Alphabet during the 4th quarter valued at about $30,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $49,000. Finally, Navigoe LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $51,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Mizuho cut their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Rosenblatt Securities reissued a “neutral” rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Finally, Bank of America increased their price objective on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Ten research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Stock Down 1.7%

GOOGL opened at $166.18 on Wednesday. The company has a market cap of $2.02 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a 50-day moving average price of $159.26 and a 200 day moving average price of $174.47. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’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 transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,270 shares of company stock valued at $26,553,563. 11.64% of the stock is owned by insiders.

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.