Alphabet Inc. (NASDAQ:GOOGL) is Wealth Effects LLC’s 10th Largest Position

Wealth Effects LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,780 shares of the information services provider’s stock after selling 1,571 shares during the quarter. Alphabet accounts for 2.0% of Wealth Effects LLC’s portfolio, making the stock its 10th largest position. Wealth Effects LLC’s holdings in Alphabet were worth $5,602,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter valued at approximately $30,000. Denver PWM LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the second quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $171.11 on Friday. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company’s fifty day moving average is $162.32 and its 200-day moving average is $168.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $122.68 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Piper Sandler reissued an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday. Citigroup raised their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Morgan Stanley raised their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Seven equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,744 shares of company stock worth $35,878,764. 11.55% of the stock is owned by 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.