Transform Wealth LLC Has $23.29 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Transform Wealth LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,577 shares of the information services provider’s stock after purchasing an additional 1,860 shares during the quarter. Alphabet comprises 1.4% of Transform Wealth LLC’s portfolio, making the stock its 12th biggest holding. Transform Wealth LLC’s holdings in Alphabet were worth $23,285,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOGL. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $3,119,000. Optivise Advisory Services LLC grew its position in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after acquiring an additional 403 shares during the period. Community Bank N.A. raised its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd lifted its holdings in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after acquiring an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC grew its holdings in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets reissued an “outperform” rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Morgan Stanley dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $177.35 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.01. The stock’s fifty day moving average price is $161.71 and its two-hundred day moving average price is $174.51. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm earned $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.