Hohimer Wealth Management LLC Has $7.28 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hohimer Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 25.3% during the third quarter, Holdings Channel reports. The fund owned 43,897 shares of the information services provider’s stock after purchasing an additional 8,851 shares during the period. Alphabet makes up 1.6% of Hohimer Wealth Management LLC’s holdings, making the stock its 8th largest holding. Hohimer Wealth Management LLC’s holdings in Alphabet were worth $7,280,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP acquired a new position in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the second quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $188.40 on Thursday. The stock has a market capitalization of $2.31 trillion, a PE ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01. The business’s 50 day simple moving average is $173.46 and its 200 day simple moving average is $171.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm posted $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Bank of America increased their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.69.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,957 shares of company stock worth $31,358,687. Company 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.