Alphabet Inc. (NASDAQ:GOOGL) Stake Lifted by Koa Wealth Management LLC

Koa Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 38,557 shares of the information services provider’s stock after purchasing an additional 163 shares during the period. Alphabet comprises 4.9% of Koa Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Koa Wealth Management LLC’s holdings in Alphabet were worth $6,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC increased its stake in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares during the last quarter. Third Point LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $452,790,000. SVB Wealth LLC increased its stake in shares of Alphabet by 2.7% in the 1st quarter. SVB Wealth LLC now owns 232,634 shares of the information services provider’s stock worth $35,112,000 after acquiring an additional 6,086 shares during the last quarter. Finally, Bornite Capital Management LP acquired a new stake in shares of Alphabet during the 1st quarter worth about $15,093,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on 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 owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $168.95 on Friday. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.41, a P/E/G ratio of 1.20 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 stock has a 50 day moving average of $168.47 and a two-hundred day moving average of $170.33. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.