FMB Wealth Management Acquires 134 Shares of Alphabet Inc. (NASDAQ:GOOGL)

FMB Wealth Management raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the first quarter, HoldingsChannel reports. The firm owned 3,917 shares of the information services provider’s stock after buying an additional 134 shares during the quarter. FMB Wealth Management’s holdings in Alphabet were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Wealth Group Ltd. raised its position in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares in the last quarter. Capital & Planning LLC increased its position in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock valued at $830,000 after buying an additional 1,119 shares in the last quarter. Eagle Capital Management LLC increased its position in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC increased its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Alphabet during the 4th quarter valued at approximately $154,716,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.9%

Shares of GOOGL stock opened at $175.70 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $162.29 and its 200-day moving average price is $174.57. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS 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 issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOGL shares. Susquehanna reduced their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. DA Davidson reduced their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Piper Sandler raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Jefferies Financial Group cut their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insider Activity at Alphabet

In related 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 value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Company insiders own 11.64% of the company’s stock.

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.