Maxwell Wealth Strategies Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Maxwell Wealth Strategies Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,278 shares of the information services provider’s stock after buying an additional 4,982 shares during the period. Alphabet comprises about 2.1% of Maxwell Wealth Strategies Inc.’s investment portfolio, making the stock its 11th biggest holding. Maxwell Wealth Strategies Inc.’s holdings in Alphabet were worth $4,970,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Bank of New York Mellon Corp raised its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. American Century Companies Inc. raised its position in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Alphabet by 9.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. International Assets Investment Management LLC raised its position in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Alphabet by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock valued at $3,191,561,000 after purchasing an additional 1,102,269 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital increased their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, JMP Securities increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research 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 issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of Alphabet stock opened at $168.95 on Friday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The stock’s fifty day moving average is $168.47 and its 200 day moving average is $170.33. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.41, a P/E/G ratio of 1.20 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.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm earned $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.01 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. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’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 sale, the director now directly owns 330,466 shares in the company, 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. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.