Wallace Advisory Group LLC Purchases 244 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wallace Advisory Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,126 shares of the information services provider’s stock after purchasing an additional 244 shares during the quarter. Alphabet accounts for 1.7% of Wallace Advisory Group LLC’s portfolio, making the stock its 9th largest position. Wallace Advisory Group LLC’s holdings in Alphabet were worth $2,485,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Lantz Financial LLC boosted its stake 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 worth $842,000 after acquiring an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $218,000. Vance Wealth Inc. boosted its stake in shares of Alphabet by 4.0% during the 2nd quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock worth $563,000 after acquiring an additional 119 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Alphabet by 3.0% during the 2nd quarter. Simon Quick Advisors LLC now owns 46,429 shares of the information services provider’s stock worth $8,457,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its stake in shares of Alphabet by 17.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 15,214 shares of the information services provider’s stock worth $2,771,000 after acquiring an additional 2,302 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.1 %

Alphabet stock opened at $195.55 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50-day simple moving average is $183.45 and its 200-day simple moving average is $173.04. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.94, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 period in the previous year, the company posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last three months. 11.55% of the stock is owned by corporate insiders.

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.