WESPAC Advisors LLC Has $1.96 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

WESPAC Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,817 shares of the information services provider’s stock after buying an additional 223 shares during the quarter. Alphabet comprises about 1.5% of WESPAC Advisors LLC’s holdings, making the stock its 12th largest position. WESPAC Advisors LLC’s holdings in Alphabet were worth $1,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Schear Investment Advisers LLC grew its stake in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Trinity Financial Advisors LLC increased its holdings in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares in the last quarter. abrdn plc increased its holdings in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its stake in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $174.71 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $191.75. The firm’s 50-day simple moving average is $169.51 and its two-hundred day simple moving average is $170.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. The Goldman Sachs Group reduced their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley raised their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction 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 transaction, 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. In the last 90 days, insiders sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is owned by 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.