Nations Financial Group Inc. IA ADV Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Nations Financial Group Inc. IA ADV raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,597 shares of the information services provider’s stock after acquiring an additional 2,482 shares during the period. Alphabet makes up 0.9% of Nations Financial Group Inc. IA ADV’s portfolio, making the stock its 20th biggest position. Nations Financial Group Inc. IA ADV’s holdings in Alphabet were worth $12,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Hampshire Trust grew its stake 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 period. Trinity Financial Advisors LLC lifted its stake in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares in the last quarter. abrdn plc boosted its stake in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. grew its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares in the last quarter. Finally, EWG Elevate Inc. increased its holdings in Alphabet by 9.7% in the 3rd quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after acquiring an additional 115 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $167.65 on Tuesday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The firm’s fifty day simple moving average is $167.83 and its two-hundred day simple moving average is $170.34. 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 company has a market cap of $2.05 trillion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

Several equities analysts have commented on GOOGL shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JMP Securities lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Seven 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.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last ninety days. 11.55% of the stock is owned by insiders.

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.