Leeward Financial Partners LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Leeward Financial Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,274 shares of the information services provider’s stock after purchasing an additional 1,350 shares during the period. Alphabet comprises 2.0% of Leeward Financial Partners LLC’s investment portfolio, making the stock its 16th biggest position. Leeward Financial Partners LLC’s holdings in Alphabet were worth $5,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased 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 purchased a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter worth $41,000. Quarry LP purchased a new position in Alphabet during the second quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet during the second quarter worth $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.8 %

Shares of NASDAQ GOOGL opened at $172.49 on Monday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $165.61 and its 200-day simple moving average is $170.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Tigress Financial raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.