Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 71,092 shares of the information services provider’s stock after buying an additional 338 shares during the period. Alphabet comprises about 3.9% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 6th largest position. Wells Trecaso Financial Group LLC’s holdings in Alphabet were worth $11,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Alphabet by 19.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 130,930 shares of the information services provider’s stock valued at $21,715,000 after buying an additional 21,228 shares during the period. a16z Perennial Management L.P. boosted its stake in Alphabet by 73.8% during the third quarter. a16z Perennial Management L.P. now owns 4,900 shares of the information services provider’s stock worth $815,000 after acquiring an additional 2,080 shares in the last quarter. abrdn plc boosted its stake in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Alphabet during the third quarter worth about $612,000. Finally, SFE Investment Counsel boosted its stake in Alphabet by 1.0% during the third quarter. SFE Investment Counsel now owns 40,934 shares of the information services provider’s stock worth $6,789,000 after acquiring an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.3 %

Shares of GOOGL stock opened at $178.35 on Friday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market cap of $2.18 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.25 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50 day simple moving average of $163.54 and a two-hundred day simple moving average of $169.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations 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 company posted $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. 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 Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. 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. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock valued at $40,287,253 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Piper Sandler reissued an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Mizuho boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.