Tanager Wealth Management LLP Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tanager Wealth Management LLP grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,691 shares of the information services provider’s stock after acquiring an additional 477 shares during the quarter. Alphabet comprises about 0.6% of Tanager Wealth Management LLP’s portfolio, making the stock its 28th biggest position. Tanager Wealth Management LLP’s holdings in Alphabet were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GOOGL. New Hampshire Trust lifted its holdings in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. increased its holdings in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,244 shares of company stock worth $37,776,954. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.1 %

GOOGL opened at $171.29 on Monday. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company’s 50 day simple moving average is $162.43 and its two-hundred day simple moving average is $169.10. Alphabet Inc. has a 1-year low of $126.93 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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 firm 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 quarter last year, the business posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Finally, Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.51.

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.