Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 24,190 shares of the information services provider’s stock after purchasing an additional 1,058 shares during the period. Alphabet comprises about 1.8% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Baker Tilly Wealth Management LLC’s holdings in Alphabet were worth $4,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth $32,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth about $41,000. Quarry LP acquired a new stake in Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. KeyCorp upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Wedbush raised their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.08.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $0.27 during trading on Friday, hitting $193.68. 9,026,248 shares of the stock were exchanged, compared to its average volume of 21,281,814. The company has a market cap of $2.37 trillion, a PE ratio of 25.69, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $182.20 and a two-hundred day moving average price of $173.01. Alphabet Inc. has a 12-month low of $130.66 and a 12-month 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. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.