Peterson Financial Group Inc. Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Peterson Financial Group Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to its most recent filing with the SEC. The fund acquired 564 shares of the information services provider’s stock, valued at approximately $94,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 70.6% during 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 purchasing an additional 41,880 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after buying an additional 1,072 shares during the last quarter. Icon Wealth Advisors LLC raised its position in shares of Alphabet by 48.3% during the 1st quarter. Icon Wealth Advisors LLC now owns 36,531 shares of the information services provider’s stock valued at $5,514,000 after buying an additional 11,898 shares in the last quarter. Windacre Partnership LLC lifted its holdings in shares of Alphabet by 23.6% during the 1st quarter. Windacre Partnership LLC now owns 11,147,000 shares of the information services provider’s stock worth $1,682,417,000 after acquiring an additional 2,125,500 shares during the last quarter. Finally, Oxford Wealth Group LLC purchased a new position in Alphabet in the first quarter worth $2,529,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Truist Financial increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Tigress Financial boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Down 0.2 %

Shares of NASDAQ GOOGL opened at $168.95 on Friday. The company has a market capitalization 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 current ratio of 1.95 and a quick ratio of 1.95. The company has a 50 day simple moving average of $168.47 and a 200-day simple moving average of $170.33. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

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 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the company earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued 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%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’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 completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate 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.