Apollon Wealth Management LLC Acquires 7,027 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Apollon Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,885 shares of the information services provider’s stock after purchasing an additional 7,027 shares during the period. Alphabet comprises about 0.9% of Apollon Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Apollon Wealth Management LLC’s holdings in Alphabet were worth $30,995,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Keystone Financial Services increased its holdings in Alphabet by 9.1% in the 3rd quarter. Keystone Financial Services now owns 2,526 shares of the information services provider’s stock worth $419,000 after acquiring an additional 210 shares in the last quarter. Vestia Personal Wealth Advisors boosted its position in shares of Alphabet by 10.8% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 1,775 shares of the information services provider’s stock valued at $294,000 after acquiring an additional 173 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in shares of Alphabet by 7.5% in the third quarter. Everhart Financial Group Inc. now owns 29,266 shares of the information services provider’s stock valued at $4,854,000 after purchasing an additional 2,043 shares in the last quarter. Lynx Investment Advisory increased its position in Alphabet by 1.0% in the third quarter. Lynx Investment Advisory now owns 13,532 shares of the information services provider’s stock worth $2,244,000 after purchasing an additional 132 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Alphabet by 3.5% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 73,597 shares of the information services provider’s stock valued at $12,206,000 after buying an additional 2,482 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Evercore ISI increased their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Finally, JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $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 quarter, insiders sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $167.65 on Tuesday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The business’s 50 day moving average price is $167.83 and its 200 day moving average price is $170.34. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.05 trillion, a P/E ratio of 22.23, a P/E/G ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.