Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Range Financial Group LLC

Range Financial Group LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,085 shares of the information services provider’s stock after acquiring an additional 78 shares during the quarter. Range Financial Group LLC’s holdings in Alphabet were worth $584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. One Wealth Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $1,753,000. Norway Savings Bank grew its stake in Alphabet by 2.0% during the 4th quarter. Norway Savings Bank now owns 34,514 shares of the information services provider’s stock worth $6,534,000 after buying an additional 690 shares during the last quarter. Strathmore Capital Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $353,000. Bath Savings Trust Co lifted its stake in Alphabet by 1.7% in the fourth quarter. Bath Savings Trust Co now owns 197,603 shares of the information services provider’s stock valued at $37,406,000 after buying an additional 3,223 shares during the last quarter. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $2,143,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock traded down $1.38 during midday trading on Tuesday, reaching $195.49. 26,429,953 shares of the company were exchanged, compared to its average volume of 23,676,129. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.35 and a beta of 0.98. The firm’s 50-day simple moving average is $180.84 and its 200-day simple moving average is $172.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the firm earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock worth $27,996,356 over the last three months. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Truist Financial upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Roth Mkm upped their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.82.

About Alphabet

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.