Centric Wealth Management Has $1.41 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Centric Wealth Management boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,973 shares of the information services provider’s stock after buying an additional 97 shares during the period. Centric Wealth Management’s holdings in Alphabet were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc boosted its stake 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 buying an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $195.40 on Thursday. Alphabet Inc. has a 1-year low of $129.68 and a 1-year high of $195.61. 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 firm has a fifty day simple moving average of $170.07 and a 200 day simple moving average of $170.28. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.53, a P/E/G ratio of 1.24 and a beta of 1.01.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,123 shares of company stock valued at $34,121,676 in the last quarter. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America lifted their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $206.03.

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.