Activest Wealth Management Buys 393 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Activest Wealth Management lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,223 shares of the information services provider’s stock after purchasing an additional 393 shares during the period. Alphabet accounts for approximately 2.2% of Activest Wealth Management’s holdings, making the stock its 13th largest holding. Activest Wealth Management’s holdings in Alphabet were worth $7,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in Alphabet during the third quarter worth about $32,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. Finally, Quarry LP bought a new position in Alphabet during the second quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,624 shares of company stock worth $27,803,730. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Seven investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Down 1.0 %

Shares of NASDAQ:GOOGL opened at $172.64 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.11 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.21 and a beta of 1.01. The business has a 50 day moving average of $169.30 and a 200-day moving average of $170.31. Alphabet Inc. has a 12-month low of $129.68 and a 12-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 (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) 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.