Allen Wealth Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Allen Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,332 shares of the information services provider’s stock after buying an additional 80 shares during the period. Allen Wealth Management LLC’s holdings in Alphabet were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Capital International Investors raised its holdings in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Capital World Investors raised its stake in shares of Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Alphabet by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 0.0 %

Shares of Alphabet stock opened at $172.65 on Monday. Alphabet Inc. has a 1-year low of $128.11 and a 1-year high of $193.31. The company’s fifty day simple moving average is $163.81 and its 200-day simple moving average is $170.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The stock has a market capitalization of $2.13 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.24 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,244 shares of company stock worth $37,776,954. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.