Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by LJI Wealth Management LLC

LJI Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,622 shares of the information services provider’s stock after purchasing an additional 1,322 shares during the quarter. LJI Wealth Management LLC’s holdings in Alphabet were worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Heritage Investment Group Inc. increased its stake in shares of Alphabet by 23.8% in the third quarter. Heritage Investment Group Inc. now owns 2,828 shares of the information services provider’s stock worth $469,000 after acquiring an additional 544 shares during the period. KPP Advisory Services LLC increased its stake in shares of Alphabet by 2.2% in the third quarter. KPP Advisory Services LLC now owns 13,457 shares of the information services provider’s stock worth $2,232,000 after acquiring an additional 285 shares during the period. RIA Advisory Group LLC acquired a new stake in shares of Alphabet in the third quarter worth $478,000. Maxwell Wealth Strategies Inc. increased its stake in shares of Alphabet by 20.5% in the third quarter. Maxwell Wealth Strategies Inc. now owns 29,278 shares of the information services provider’s stock worth $4,970,000 after acquiring an additional 4,982 shares during the period. Finally, Paragon Advisors LLC increased its stake in shares of Alphabet by 2.0% in the third quarter. Paragon Advisors LLC now owns 24,611 shares of the information services provider’s stock worth $4,082,000 after acquiring an additional 473 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Seven equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $168.95 on Friday. The firm’s fifty day simple moving average is $168.47 and its 200-day simple moving average is $170.33. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

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

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.