Alphabet Inc. (NASDAQ:GOOGL) is Glass Wealth Management Co LLC’s 8th Largest Position

Glass Wealth Management Co LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,474 shares of the information services provider’s stock after buying an additional 1,124 shares during the quarter. Alphabet comprises 3.3% of Glass Wealth Management Co LLC’s portfolio, making the stock its 8th largest position. Glass Wealth Management Co LLC’s holdings in Alphabet were worth $5,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its position in shares of Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC boosted its stake in Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares in the last quarter. Hancock Whitney Corp grew its holdings in Alphabet by 1.9% in the first quarter. Hancock Whitney Corp now owns 420,126 shares of the information services provider’s stock worth $63,410,000 after purchasing an additional 7,677 shares during the period. Semmax Financial Advisors Inc. increased its stake in shares of Alphabet by 18.2% during the first quarter. Semmax Financial Advisors Inc. now owns 28,633 shares of the information services provider’s stock valued at $4,322,000 after purchasing an additional 4,405 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its holdings in shares of Alphabet by 1.9% during the first quarter. Beacon Capital Management LLC now owns 11,215 shares of the information services provider’s stock valued at $1,693,000 after purchasing an additional 205 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 0.2 %

GOOGL stock opened at $168.95 on Monday. The business’s 50-day moving average price is $168.47 and its 200-day moving average price is $170.31. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.41, a PEG ratio of 1.20 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 twelve month low of $127.90 and a twelve month high of $191.75.

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

Alphabet Announces Dividend

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 paid a $0.20 dividend. 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 payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the 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 completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 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 $59,741,643.48. This trade represents a 3.08 % decrease in their position. 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.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Loop Capital increased their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price 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 assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.