Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Cannon Wealth Management Services LLC

Cannon Wealth Management Services LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,793 shares of the information services provider’s stock after buying an additional 111 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in Alphabet were worth $562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Genesis Wealth Advisors LLC purchased a new stake in Alphabet in the 4th quarter valued at about $356,000. Dover Advisors LLC grew its holdings in shares of Alphabet by 1.1% during the 4th quarter. Dover Advisors LLC now owns 24,947 shares of the information services provider’s stock worth $4,722,000 after purchasing an additional 268 shares during the period. B&D White Capital Company LLC grew its holdings in shares of Alphabet by 66.1% during the 4th quarter. B&D White Capital Company LLC now owns 408,032 shares of the information services provider’s stock worth $77,240,000 after purchasing an additional 162,416 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Alphabet by 3.7% during the 4th quarter. Capital Advisors Ltd. LLC now owns 4,614 shares of the information services provider’s stock worth $873,000 after purchasing an additional 165 shares during the period. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Piper Sandler cut their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. KeyCorp upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Finally, Citigroup cut their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $173.86 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a fifty day simple moving average of $188.21 and a 200-day simple moving average of $176.47. Alphabet Inc. has a fifty-two week low of $134.00 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,316 shares of company stock valued at $25,062,887. Corporate insiders own 11.55% of the company’s stock.

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.