Wallington Asset Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Wallington Asset Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,216 shares of the information services provider’s stock, valued at approximately $533,000.

Several other large investors have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc grew its position in 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 buying an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter worth $41,000. Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock worth $37,776,954 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL opened at $171.29 on Monday. The business’s fifty day moving average is $162.43 and its 200 day moving average is $169.10. Alphabet Inc. has a 12-month low of $126.93 and a 12-month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet 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.