Ashton Thomas Private Wealth LLC Has $16.47 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ashton Thomas Private Wealth LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,321 shares of the information services provider’s stock after acquiring an additional 12,389 shares during the quarter. Alphabet accounts for about 0.9% of Ashton Thomas Private Wealth LLC’s holdings, making the stock its 23rd largest position. Ashton Thomas Private Wealth LLC’s holdings in Alphabet were worth $16,472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Proactive Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $2,666,000. Platform Technology Partners increased its holdings in shares of Alphabet by 1.3% in the third quarter. Platform Technology Partners now owns 23,957 shares of the information services provider’s stock valued at $3,973,000 after purchasing an additional 302 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Alphabet by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,933,524 shares of the information services provider’s stock valued at $2,310,875,000 after acquiring an additional 257,230 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Alphabet by 15.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 801,353 shares of the information services provider’s stock worth $132,351,000 after buying an additional 108,787 shares during the last quarter. Finally, Apollon Financial LLC increased its holdings in Alphabet by 0.3% in the third quarter. Apollon Financial LLC now owns 49,192 shares of the information services provider’s stock valued at $8,158,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $169.12 on Wednesday. The stock has a 50-day moving average price of $168.03 and a two-hundred day moving average price of $170.35. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a market capitalization of $2.07 trillion, a PE ratio of 22.43, a P/E/G ratio of 1.17 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 quarter in the previous year, the firm posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOGL shares. Morgan Stanley lifted their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial upped 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, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. 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’s stock. According to data from MarketBeat, Alphabet 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.