WESPAC Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

WESPAC Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 11,817 shares of the information services provider’s stock after purchasing an additional 223 shares during the period. Alphabet comprises approximately 1.5% of WESPAC Advisors LLC’s holdings, making the stock its 12th biggest position. WESPAC Advisors LLC’s holdings in Alphabet were worth $1,960,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC raised its position in shares of Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank grew its position in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC increased its stake in shares of Alphabet by 1.7% in the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.2 %

GOOGL stock opened at $174.71 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $129.68 and a 1-year high of $191.75. The business has a 50 day simple moving average of $169.51 and a two-hundred day simple moving average of $170.24. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm 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 quarter in the prior year, the business earned $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed 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 dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JMP Securities upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.