Alphabet Inc. (NASDAQ:GOOGL) Position Increased by Wahed Invest LLC

Wahed Invest LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,094 shares of the information services provider’s stock after buying an additional 11,167 shares during the period. Alphabet accounts for 4.1% of Wahed Invest LLC’s holdings, making the stock its 4th biggest position. Wahed Invest LLC’s holdings in Alphabet were worth $23,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet during the second quarter valued at $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, 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 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 three months. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. 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. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.08.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The company has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. 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 company has a 50 day simple moving average of $171.63 and a 200-day simple moving average of $170.67. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities research analysts predict 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. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.