Buck Wealth Strategies LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Buck Wealth Strategies LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,144 shares of the information services provider’s stock after selling 5,314 shares during the quarter. Alphabet comprises approximately 2.5% of Buck Wealth Strategies LLC’s portfolio, making the stock its 13th biggest position. Buck Wealth Strategies LLC’s holdings in Alphabet were worth $7,819,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. New Hampshire Trust raised its stake in 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 acquiring an additional 1,132 shares during the last quarter. Trinity Financial Advisors LLC raised 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 purchasing an additional 190 shares during the last quarter. abrdn plc lifted its holdings in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. grew its position in Alphabet by 0.7% in 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 during the last quarter. Finally, EWG Elevate Inc. increased its stake 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 buying an additional 115 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by company insiders.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $169.12 on Wednesday. The firm has a market cap of $2.07 trillion, a PE ratio of 22.43, a P/E/G ratio of 1.17 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The business’s fifty day moving average is $168.03 and its two-hundred day moving average is $170.35.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price 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.