Foundations Investment Advisors LLC Has $24.23 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Foundations Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,100 shares of the information services provider’s stock after acquiring an additional 16,911 shares during the period. Foundations Investment Advisors LLC’s holdings in Alphabet were worth $24,231,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC bought a new stake in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. TD Securities increased their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. Guggenheim upped their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Price Performance

GOOGL opened at $171.29 on Friday. The stock has a fifty day simple moving average of $162.43 and a two-hundred day simple moving average of $168.91. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a 12-month low of $126.93 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during 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 prior year, the company earned $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 10.61%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the 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 sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock worth $37,776,954 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

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.