Parkway Wealth Management Group LLC Purchases 11,811 Shares of Alphabet Inc. $GOOGL

Parkway Wealth Management Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 540.3% during the first quarter, Holdings Channel reports. The firm owned 13,997 shares of the information services provider’s stock after purchasing an additional 11,811 shares during the period. Parkway Wealth Management Group LLC’s holdings in Alphabet were worth $4,458,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOGL. Symmetry Partners LLC lifted its holdings in Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares during the period. Members Trust Co grew its holdings in Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after acquiring an additional 31 shares during the period. Altfest L J & Co. Inc. raised its position in shares of Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares in the last quarter. Insight 2811 Inc. raised its position in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after acquiring an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC lifted its stake in shares of Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after purchasing an additional 32 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Roth Mkm restated a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Truist Financial set a $430.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Daiwa Securities Group raised their price objective on shares of Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $413.90.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $361.21 on Thursday. Alphabet Inc. has a 1-year low of $172.77 and a 1-year high of $408.61. The company has a market cap of $4.38 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.53 and a beta of 1.24. The company’s fifty day moving average price is $370.08 and its two-hundred day moving average price is $333.88. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.