Angeles Wealth Management LLC Has $4.78 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Angeles Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,795 shares of the information services provider’s stock after buying an additional 890 shares during the quarter. Alphabet accounts for 0.4% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Angeles Wealth Management LLC’s holdings in Alphabet were worth $4,776,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the 2nd 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 during the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter worth about $53,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake 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 during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $172.49 on Friday. The business has a 50-day moving average price of $165.18 and a 200-day moving average price of $170.08. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates 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 prior year, the company earned $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOGL shares. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

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.