Weatherly Asset Management L. P. Has $25.19 Million Stock Holdings in Alphabet Inc. $GOOGL

Weatherly Asset Management L. P. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 103,630 shares of the information services provider’s stock after selling 2,049 shares during the period. Alphabet comprises approximately 2.1% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 12th biggest position. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $25,192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Truist Financial Corp grew its holdings in Alphabet by 2.3% during the 2nd quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock valued at $448,684,000 after buying an additional 56,295 shares in the last quarter. Alaethes Wealth LLC boosted its position in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the period. Moment Partners LLC grew its stake 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 acquiring an additional 504 shares in the last quarter. Welch Group LLC increased its holdings in Alphabet by 4.0% during the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after acquiring an additional 2,467 shares during the period. Finally, Brooktree Capital Management purchased a new stake in Alphabet in the 2nd quarter worth approximately $352,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the transaction, the insider directly owned 42,972 shares of the company’s stock, valued at $13,531,453.08. The trade was a 29.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $313.45, for a total value of $31,971.90. Following the completion of the sale, the director owned 18,205 shares of the company’s stock, valued at $5,706,357.25. The trade was a 0.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 192,687 shares of company stock worth $56,255,711 in the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.7%

Shares of NASDAQ GOOGL opened at $315.15 on Friday. The stock has a market capitalization of $3.80 trillion, a P/E ratio of 31.08, a PEG ratio of 1.73 and a beta of 1.07. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The firm’s 50 day simple moving average is $301.53 and its two-hundred day simple moving average is $243.51. 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:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 32.23% and a return on equity of 35.00%. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. CICC Research boosted their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Melius Research upped their target price on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. The Goldman Sachs Group raised their price target on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citigroup reissued an “outperform” rating on shares of Alphabet in a report on Wednesday. Finally, UBS Group restated a “neutral” rating and issued a $306.00 price objective (up from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $317.76.

About Alphabet

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.