Hemington Wealth Management Has $1.29 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hemington Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,795 shares of the information services provider’s stock after acquiring an additional 698 shares during the period. Hemington Wealth Management’s holdings in Alphabet were worth $1,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Drake & Associates LLC grew its position in Alphabet by 43.1% in the third quarter. Drake & Associates LLC now owns 4,411 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 1,328 shares in the last quarter. Vista Investment Partners LLC lifted its stake in shares of Alphabet by 0.8% during the 3rd quarter. Vista Investment Partners LLC now owns 8,213 shares of the information services provider’s stock worth $1,362,000 after buying an additional 65 shares during the last quarter. TruWealth Advisors LLC boosted its holdings in shares of Alphabet by 0.6% during the 3rd quarter. TruWealth Advisors LLC now owns 14,593 shares of the information services provider’s stock worth $2,420,000 after buying an additional 81 shares during the period. NatWest Group plc grew its stake in Alphabet by 24.4% in the 3rd quarter. NatWest Group plc now owns 93,419 shares of the information services provider’s stock valued at $15,494,000 after buying an additional 18,337 shares during the last quarter. Finally, Strid Group LLC bought a new position in Alphabet in the 3rd quarter valued at about $180,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Sanford C. Bernstein raised their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,299 shares of company stock worth $25,055,751. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $179.25 on Tuesday. The company has a market cap of $2.19 trillion, a P/E ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The firm has a fifty day moving average of $192.12 and a two-hundred day moving average of $176.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 9.94%.

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.