Alliance Wealth Management Group Increases Position in Alphabet Inc. $GOOG

Alliance Wealth Management Group grew its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 57.0% during the third quarter, Holdings Channel.com reports. The firm owned 6,019 shares of the information services provider’s stock after acquiring an additional 2,185 shares during the period. Alliance Wealth Management Group’s holdings in Alphabet were worth $1,466,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. IFS Advisors LLC raised its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley raised its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC lifted its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, University of Illinois Foundation acquired a new position in Alphabet in the second quarter valued at approximately $31,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7%

NASDAQ GOOG opened at $330.84 on Friday. The firm’s fifty day moving average is $315.30 and its two-hundred day moving average is $259.15. Alphabet Inc. has a one year low of $142.66 and a one year high of $341.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $3.99 trillion, a PE ratio of 32.63, a P/E/G ratio of 1.81 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOG. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Tuesday. Pivotal Research reissued a “buy” rating and issued a $400.00 price target (up from $350.00) on shares of Alphabet in a research report on Friday, December 5th. Oppenheimer upped their price objective on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Eight research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $326.13.

Get Our Latest Stock Report on Alphabet

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the completion of the sale, the insider owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 192,687 shares of company stock valued at $58,728,068. Company insiders own 12.99% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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