Proactive Wealth Strategies LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Proactive Wealth Strategies LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 16,077 shares of the information services provider’s stock, valued at approximately $2,666,000. Alphabet comprises approximately 1.5% of Proactive Wealth Strategies LLC’s portfolio, making the stock its 21st biggest position.

Several other institutional investors have also added to or reduced their stakes in the business. Platform Technology Partners lifted its position in shares of Alphabet by 1.3% in the 3rd quarter. Platform Technology Partners now owns 23,957 shares of the information services provider’s stock worth $3,973,000 after purchasing an additional 302 shares during the period. 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 worth $2,310,875,000 after acquiring an additional 257,230 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Alphabet by 15.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 801,353 shares of the information services provider’s stock valued at $132,351,000 after purchasing an additional 108,787 shares during the last quarter. Apollon Financial LLC grew its holdings in shares of Alphabet by 0.3% during the third quarter. Apollon Financial LLC now owns 49,192 shares of the information services provider’s stock valued at $8,158,000 after buying an additional 147 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its stake in shares of Alphabet by 4.6% in the third quarter. WealthPlan Investment Management LLC now owns 20,057 shares of the information services provider’s stock worth $3,326,000 after purchasing an additional 891 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL opened at $169.12 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $168.03 and its 200-day simple moving average is $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 price-to-earnings ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.