Range Financial Group LLC Purchases 78 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Range Financial Group LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the information services provider’s stock after acquiring an additional 78 shares during the quarter. Range Financial Group LLC’s holdings in Alphabet were worth $584,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. One Wealth Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $1,753,000. Norway Savings Bank increased its holdings in Alphabet by 2.0% during the 4th quarter. Norway Savings Bank now owns 34,514 shares of the information services provider’s stock worth $6,534,000 after purchasing an additional 690 shares during the period. Strathmore Capital Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at $353,000. Bath Savings Trust Co lifted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Bath Savings Trust Co now owns 197,603 shares of the information services provider’s stock worth $37,406,000 after buying an additional 3,223 shares during the period. Finally, Spartan Planning & Wealth Management bought a new position in shares of Alphabet during the 4th quarter worth $2,143,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOGL. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Finally, Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.82.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $1.38 during mid-day trading on Tuesday, reaching $195.49. The company’s stock had a trading volume of 26,429,953 shares, compared to its average volume of 23,676,129. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day moving average of $180.84 and a two-hundred day moving average of $172.60. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 25.93, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the sale, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,887 shares of company stock valued at $27,996,356. Corporate insiders own 11.55% 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.