Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by Peterson Wealth Management

Peterson Wealth Management decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,118 shares of the information services provider’s stock after selling 1,129 shares during the quarter. Alphabet accounts for about 1.6% of Peterson Wealth Management’s investment portfolio, making the stock its 24th largest holding. Peterson Wealth Management’s holdings in Alphabet were worth $2,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in Alphabet in the 3rd quarter worth approximately $32,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock valued at $34,244,676 in the last ninety days. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.03.

Alphabet Trading Up 5.6 %

Shares of GOOGL opened at $185.17 on Wednesday. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The business’s fifty day moving average is $169.70 and its 200-day moving average is $170.21. 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 $2.27 trillion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

About Alphabet

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.