Clarion Wealth Managment Partners LLC Acquires New Position in Alphabet Inc. $GOOGL

Clarion Wealth Managment Partners LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, HoldingsChannel reports. The firm bought 3,091 shares of the information services provider’s stock, valued at approximately $545,000.

Several other hedge funds also recently made changes to their positions in GOOGL. Financial Gravity Companies Inc. bought a new position in Alphabet during the second quarter worth $31,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after buying an additional 89 shares during the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 77.6% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after buying an additional 152 shares during the period. Finally, S&T Bank PA boosted its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.0%

GOOGL opened at $309.29 on Monday. The stock’s 50 day moving average price is $283.14 and its 200 day moving average price is $229.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $3.73 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.79 and a beta of 1.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Wells Fargo & Company raised their target price on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Melius Research upped their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Moffett Nathanson boosted their price objective on Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Finally, Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.22.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 222,750 shares of company stock valued at $60,496,098. Company insiders own 11.55% of the company’s stock.

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.