Falcon Wealth Planning Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Falcon Wealth Planning lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,898 shares of the information services provider’s stock after acquiring an additional 171 shares during the quarter. Falcon Wealth Planning’s holdings in Alphabet were worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in 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. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter worth $41,000. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet during the second quarter valued at $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOGL shares. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group increased their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Up 1.6 %

Shares of Alphabet stock opened at $175.30 on Tuesday. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The business has a 50-day moving average price of $166.15 and a 200-day moving average price of $170.28. 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 released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for 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 quarter in the prior year, the firm posted $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last three months. 11.55% of the stock is owned by corporate 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.