Tyler Stone Wealth Management Buys 16,613 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tyler Stone Wealth Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 117.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,755 shares of the information services provider’s stock after acquiring an additional 16,613 shares during the quarter. Alphabet comprises approximately 1.0% of Tyler Stone Wealth Management’s holdings, making the stock its 21st largest position. Tyler Stone Wealth Management’s holdings in Alphabet were worth $5,101,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Baker Avenue Asset Management LP raised its holdings in Alphabet by 1.0% in the 3rd quarter. Baker Avenue Asset Management LP now owns 213,098 shares of the information services provider’s stock worth $35,342,000 after acquiring an additional 2,094 shares during the period. Round Rock Advisors LLC grew its position in shares of Alphabet by 7.5% in the third quarter. Round Rock Advisors LLC now owns 9,324 shares of the information services provider’s stock valued at $1,546,000 after purchasing an additional 649 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its stake in shares of Alphabet by 26.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider’s stock worth $1,377,000 after purchasing an additional 1,749 shares during the period. Guerra Pan Advisors LLC lifted its position in shares of Alphabet by 4.0% during the 3rd quarter. Guerra Pan Advisors LLC now owns 28,262 shares of the information services provider’s stock worth $4,687,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC boosted its stake in Alphabet by 1.4% during the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 19,844 shares of the information services provider’s stock valued at $3,291,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. KeyCorp upped their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.7 %

GOOGL stock opened at $164.76 on Monday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. 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 company’s 50-day simple moving average is $167.64 and its 200 day simple moving average is $170.36. The company has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business 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 $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 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.