Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 98,287 shares of the information services provider’s stock after purchasing an additional 13,209 shares during the quarter. IHT Wealth Management LLC’s holdings in Alphabet were worth $16,327,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Lantz Financial LLC raised its holdings in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares during the period. RFG Advisory LLC raised its stake in shares of Alphabet by 27.7% during the second quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock valued at $12,293,000 after purchasing an additional 14,647 shares during the period. Realta Investment Advisors lifted its position in shares of Alphabet by 5.7% during the second quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock worth $5,807,000 after purchasing an additional 1,730 shares in the last quarter. Granite Bay Wealth Management LLC boosted its stake in shares of Alphabet by 6,410.2% in the second quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock valued at $18,488,000 after purchasing an additional 107,883 shares during the period. Finally, Northwest Investment Counselors LLC increased its stake in Alphabet by 3.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock worth $3,205,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $189.82 on Friday. The company has a 50-day simple moving average of $171.63 and a 200 day simple moving average of $170.71. The company has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued 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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction 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 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock worth $34,413,006 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. JMP Securities increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note 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, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

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.