Global Wealth Management Investment Advisory Inc. Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Global Wealth Management Investment Advisory Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,263 shares of the information services provider’s stock after buying an additional 3,300 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Alphabet were worth $4,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. China Universal Asset Management Co. Ltd. increased its position in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after acquiring an additional 1,072 shares in the last quarter. Empowered Funds LLC boosted its position in Alphabet by 12.3% during the 1st quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock worth $28,351,000 after purchasing an additional 20,572 shares during the period. Legacy Capital Group California Inc. increased its holdings in Alphabet by 8.9% in the 1st quarter. Legacy Capital Group California Inc. now owns 13,732 shares of the information services provider’s stock valued at $2,073,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Alphabet by 510.4% in the first quarter. Headlands Technologies LLC now owns 12,282 shares of the information services provider’s stock valued at $1,854,000 after purchasing an additional 10,270 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Loop Capital raised their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Up 1.6 %

Alphabet stock opened at $175.30 on Tuesday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. The firm has a 50-day moving average price of $166.15 and a two-hundred day moving average price of $170.28.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. 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. Company insiders own 11.55% of the company’s stock.

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.