Alpha Omega Wealth Management LLC Has $3.28 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Omega Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,789 shares of the information services provider’s stock after selling 143 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $3,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Evercore ISI cut their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Loop Capital reissued a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Trading Up 0.7 %

Shares of GOOGL stock opened at $163.24 on Monday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a 50-day simple moving average of $161.37 and a two-hundred day simple moving average of $167.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the business posted $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.