Rovin Capital UT ADV Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Rovin Capital UT ADV grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,721 shares of the information services provider’s stock after buying an additional 144 shares during the period. Rovin Capital UT ADV’s holdings in Alphabet were worth $1,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. M. Kraus & Co grew its holdings in shares of Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC grew its stake in shares of Alphabet by 3.9% during the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after buying an additional 67 shares during the last quarter. Aire Advisors LLC grew its stake in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its holdings in shares of Alphabet by 2.1% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after buying an additional 68 shares during the period. Finally, Penbrook Management LLC lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Penbrook Management LLC now owns 23,170 shares of the information services provider’s stock valued at $3,497,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.0 %

Shares of GOOGL stock traded down $3.37 during mid-day trading on Tuesday, hitting $162.78. The company’s stock had a trading volume of 33,503,634 shares, compared to its average volume of 30,866,035. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $103.71 and a 52-week high of $174.71. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. The business has a 50-day moving average price of $148.80 and a 200 day moving average price of $141.79.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the business earned $1.17 EPS. Research analysts predict that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold a total of 253,289 shares of company stock worth $36,724,534 in the last ninety days. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Wells Fargo & Company boosted their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday. TD Cowen upped their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI raised their price target on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday. Sanford C. Bernstein upped their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Truist Financial raised their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $189.74.

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.