Beta Wealth Group Inc. Has $3.25 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Beta Wealth Group Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,458 shares of the information services provider’s stock after buying an additional 1,958 shares during the quarter. Alphabet accounts for about 1.5% of Beta Wealth Group Inc.’s holdings, making the stock its 22nd biggest holding. Beta Wealth Group Inc.’s holdings in Alphabet were worth $3,253,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP raised its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,552 shares of company stock valued at $40,287,253 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.3 %

GOOG stock opened at $179.86 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 23.85, a P/E/G ratio of 1.25 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The business has a 50-day moving average of $164.92 and a 200-day moving average of $171.12.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. The business’s revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOG shares. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

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.