Executive Wealth Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Executive Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 48,734 shares of the information services provider’s stock after purchasing an additional 5,926 shares during the quarter. Executive Wealth Management LLC’s holdings in Alphabet were worth $8,083,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOGL. Lantz Financial LLC grew its position in Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC bought a new position in shares of Alphabet in the second quarter worth approximately $218,000. Breed s Hill Capital LLC grew its holdings in shares of Alphabet by 6.1% in the second quarter. Breed s Hill Capital LLC now owns 4,870 shares of the information services provider’s stock worth $887,000 after purchasing an additional 280 shares during the last quarter. Hengehold Capital Management LLC increased its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the period. Finally, Robbins Farley raised its holdings in Alphabet by 2.2% during the 2nd quarter. Robbins Farley now owns 18,465 shares of the information services provider’s stock valued at $3,363,000 after buying an additional 405 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.6 %

NASDAQ:GOOGL opened at $195.42 on Wednesday. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $172.93 and its 200-day moving average price is $170.97. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock valued at $31,358,687 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.08.

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.