Proactive Wealth Strategies LLC Takes $2.67 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Proactive Wealth Strategies LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,077 shares of the information services provider’s stock, valued at approximately $2,666,000. Alphabet comprises about 1.5% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. International Assets Investment Management LLC increased its position in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC lifted its position in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Tigress Financial raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was 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 in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOGL opened at $169.12 on Wednesday. The business’s 50 day moving average is $168.03 and its 200 day moving average is $170.35. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.17 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 Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) 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.