HHM Wealth Advisors LLC Increases Position in Alphabet Inc. $GOOGL

HHM Wealth Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% in the 2nd quarter, Holdings Channel reports. The fund owned 15,284 shares of the information services provider’s stock after purchasing an additional 1,759 shares during the period. Alphabet makes up about 0.3% of HHM Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest position. HHM Wealth Advisors LLC’s holdings in Alphabet were worth $2,694,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Alaethes Wealth LLC boosted its stake in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC increased its holdings in shares of Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Welch Group LLC increased its holdings in shares of 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 buying an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management increased its position in shares of Alphabet by 4.8% during the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. BNP Paribas Exane started coverage on Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 target price for the company. Citizens Jmp raised their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Finally, UBS Group reissued a “neutral” rating and set a $306.00 price target (up previously 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.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $307.84.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 225,072 shares of company stock worth $58,074,027. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOGL opened at $320.02 on Monday. The stock has a fifty day moving average price of $269.25 and a 200 day moving average price of $219.56. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a market cap of $3.86 trillion, a P/E ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Alphabet 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.