NRI Wealth Management LC Invests $239,000 in Alphabet Inc. (NASDAQ:GOOGL)

NRI Wealth Management LC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, Holdings Channel reports. The fund acquired 1,260 shares of the information services provider’s stock, valued at approximately $239,000. Alphabet makes up approximately 0.2% of NRI Wealth Management LC’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LMR Partners LLP bought a new position in Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC bought a new position in Alphabet during the 2nd quarter worth $41,000. Quarry LP acquired a new position in shares of Alphabet in the second quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet in the second quarter valued at approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,519 shares of company stock worth $27,734,316. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.1 %

GOOGL opened at $189.43 on Friday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. 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’s 50-day moving average is $179.17 and its 200 day moving average is $172.28. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.12, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its 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. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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 business earned $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued 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 was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. KeyCorp boosted their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.69.

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.