BCS Wealth Management increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,824 shares of the information services provider’s stock after buying an additional 987 shares during the period. BCS Wealth Management’s holdings in Alphabet were worth $1,102,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Conrad Siegel Investment Advisors Inc. increased its holdings in Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares during the last quarter. Denver PWM LLC grew its position in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the last quarter. Cutler Investment Counsel LLC raised its position in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after acquiring an additional 61 shares in the last quarter. Finally, MKT Advisors LLC lifted its stake in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,553 shares of company stock worth $23,817,951 in the last three months. 11.55% of the stock is currently owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on GOOGL shares. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday. Robert W. Baird reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Bank of America reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.15.
View Our Latest Report on Alphabet
About Alphabet
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.
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