FSA Wealth Management LLC Invests $589,000 in Alphabet Inc. (NASDAQ:GOOGL)

FSA Wealth Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, Holdings Channel.com reports. The fund purchased 3,551 shares of the information services provider’s stock, valued at approximately $589,000. Alphabet accounts for 0.2% of FSA Wealth Management LLC’s holdings, making the stock its 26th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC increased its position in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its position in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. increased its position in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. Wulff Hansen & CO. increased its position in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. increased its position in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % 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, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet 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 owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,123 shares of company stock worth $34,121,676 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday. Finally, Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Price Performance

NASDAQ GOOGL opened at $191.96 on Friday. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The stock’s 50-day moving average is $170.66 and its two-hundred day moving average is $170.46. 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 firm has a market cap of $2.35 trillion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted 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 analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Alphabet 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.