Processus Wealth & Capital Management LLC Invests $2.48 Million in Alphabet Inc. (NASDAQ:GOOGL)

Processus Wealth & Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,776 shares of the information services provider’s stock, valued at approximately $2,483,000. Alphabet accounts for about 2.5% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 17th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the business. Congress Asset Management Co. MA boosted its stake in Alphabet by 0.5% during the 4th quarter. Congress Asset Management Co. MA now owns 1,020,275 shares of the information services provider’s stock valued at $142,522,000 after purchasing an additional 5,413 shares in the last quarter. Richardson Financial Services Inc. bought a new position in Alphabet during the 4th quarter valued at $1,138,000. Fortis Group Advisors LLC boosted its stake in Alphabet by 3.1% during the 4th quarter. Fortis Group Advisors LLC now owns 6,024 shares of the information services provider’s stock valued at $841,000 after purchasing an additional 180 shares in the last quarter. Northwest Bank & Trust Co bought a new position in Alphabet during the 4th quarter valued at $2,527,000. Finally, Vima LLC bought a new position in Alphabet during the 4th quarter valued at $163,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.9 %

Shares of GOOGL stock traded up $1.63 during trading hours on Friday, reaching $176.79. The company had a trading volume of 18,063,555 shares, compared to its average volume of 21,874,168. The company has a 50 day moving average of $168.08 and a 200 day moving average of $151.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $180.41.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the company earned $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued 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 is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wedbush lifted their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Evercore ISI lifted their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Tigress Financial lifted their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Barclays lifted their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,958 shares of company stock worth $25,805,853. Corporate insiders own 11.55% of the company’s stock.

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.