Grant Private Wealth Management Inc Has $5.48 Million Stock Position in Alphabet Inc. $GOOGL

Grant Private Wealth Management Inc lifted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,494 shares of the information services provider’s stock after purchasing an additional 3,047 shares during the period. Alphabet makes up approximately 3.3% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 6th biggest holding. Grant Private Wealth Management Inc’s holdings in Alphabet were worth $5,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its position in shares of Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after buying an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank raised its stake in Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the period. Institutional investors own 40.03% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $303.41, for a total transaction of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares of the company’s stock, valued at approximately $1,405,091.71. This trade represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,110,165 shares of company stock valued at $118,134,117 over the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $301.00 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market cap of $3.64 trillion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. The stock’s 50-day moving average is $317.62 and its 200-day moving average is $293.14. Alphabet Inc. has a one year low of $140.53 and a one year high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. DA Davidson boosted their target price on Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. New Street Research raised their price target on Alphabet from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Rosenblatt Securities lifted their price objective on Alphabet from $279.00 to $357.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Alphabet from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $367.18.

Read Our Latest Stock Report on GOOGL

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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