NRI Wealth Management LC Acquires Shares of 1,260 Alphabet Inc. (NASDAQ:GOOGL)

NRI Wealth Management LC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,260 shares of the information services provider’s stock, valued at approximately $239,000. Alphabet accounts for 0.2% of NRI Wealth Management LC’s investment portfolio, making the stock its 24th biggest position.

Other large investors also recently made changes to their positions in the company. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet in the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.1 %

Alphabet stock opened at $189.43 on Friday. The company’s 50-day moving average price is $179.17 and its two-hundred day moving average price is $172.28. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.32 trillion, a P/E ratio of 25.12, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. 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 firm posted $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Loop Capital upped their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.69.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,519 shares of company stock valued at $27,734,316. 11.55% of the stock is owned by company insiders.

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.