FFT Wealth Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

FFT Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,355 shares of the information services provider’s stock after buying an additional 951 shares during the quarter. FFT Wealth Management LLC’s holdings in Alphabet were worth $2,149,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp raised its position in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC grew its stake in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $165.87 on Tuesday. Alphabet Inc. has a 12 month low of $136.13 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day simple moving average of $187.71 and a 200-day simple moving average of $176.56. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Piper Sandler dropped their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wolfe Research raised their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Bank of America reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald decreased their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, DA Davidson raised their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock valued at $18,192,354 over the last quarter. Company 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.