GLOBALT Investments LLC GA Acquires 11,143 Shares of Alphabet Inc. $GOOGL

GLOBALT Investments LLC GA grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 14.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 87,435 shares of the information services provider’s stock after buying an additional 11,143 shares during the period. Alphabet comprises 0.8% of GLOBALT Investments LLC GA’s portfolio, making the stock its 25th biggest holding. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $21,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Financial Gravity Companies Inc. bought a new position in Alphabet in the 2nd quarter worth about $31,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares in the last quarter. Corsicana & Co. bought a new position in shares of Alphabet in the third quarter valued at approximately $54,000. Vermillion & White Wealth Management Group LLC grew its stake in Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares in the last quarter. Finally, Christopher J. Hasenberg Inc grew its stake in Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 152 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. Wedbush reiterated an “outperform” rating and issued a $350.00 target price (up from $320.00) on shares of Alphabet in a research note on Friday, December 19th. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. BMO Capital Markets boosted their target price on Alphabet from $340.00 to $343.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Piper Sandler restated an “overweight” rating and issued a $365.00 target price (up from $330.00) on shares of Alphabet in a research note on Thursday, December 11th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.90.

Read Our Latest Stock Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the sale, the director directly owned 18,104 shares in the company, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $299.80, for a total value of $9,743,500.00. Following the transaction, the chief executive officer directly owned 2,239,619 shares in the company, valued at $671,437,776.20. This trade represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 208,312 shares of company stock valued at $58,775,296. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $313.51 on Monday. The business has a 50 day moving average of $295.59 and a 200 day moving average of $239.61. The company has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.80 and a beta of 1.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were 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 was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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