GDS Wealth Management Purchases 4,085 Shares of Alphabet Inc. $GOOGL

GDS Wealth Management raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,356 shares of the information services provider’s stock after buying an additional 4,085 shares during the quarter. Alphabet comprises 1.6% of GDS Wealth Management’s portfolio, making the stock its 17th biggest holding. GDS Wealth Management’s holdings in Alphabet were worth $21,915,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Alaethes Wealth LLC increased its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. Moment Partners LLC raised its position in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the period. Welch Group LLC lifted its stake in shares of Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management boosted its holdings in shares of Alphabet by 4.8% in the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after purchasing an additional 390 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the transaction, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 225,072 shares of company stock valued at $58,074,027 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane started coverage on shares of Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating and a $355.00 target price on the stock. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Barclays reiterated an “overweight” rating and set a $315.00 price target (up from $250.00) on shares of Alphabet in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.73.

Alphabet Price Performance

Alphabet stock opened at $314.49 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm has a 50-day moving average of $270.48 and a two-hundred day moving average of $220.62. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.