Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Congress Asset Management Co. MA

Congress Asset Management Co. MA raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,020,275 shares of the information services provider’s stock after buying an additional 5,413 shares during the quarter. Alphabet comprises about 1.1% of Congress Asset Management Co. MA’s portfolio, making the stock its 15th biggest holding. Congress Asset Management Co. MA’s holdings in Alphabet were worth $142,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Meritage Group LP lifted its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC lifted its position in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC lifted its position in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Canaccord Genuity Group upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, TD Cowen increased their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.26.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,958 shares of company stock worth $25,805,853. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock traded up $1.63 during mid-day trading on Friday, reaching $176.79. The stock had a trading volume of 18,063,555 shares, compared to its average volume of 21,874,168. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $180.41. The company has a market cap of $2.18 trillion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The business has a 50-day simple moving average of $168.08 and a 200 day simple moving average of $151.11. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

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.