Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,417 shares of the information services provider’s stock after purchasing an additional 98 shares during the quarter. Alphabet comprises 6.3% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its 3rd largest holding. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $12,010,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at $41,000. Quarry LP bought a new stake in shares of Alphabet during the 2nd quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last quarter. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOGL. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Monday. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The stock’s 50-day moving average price is $167.64 and its 200-day moving average price is $170.36. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 analysts’ expectations 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 firm earned $1.55 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given 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 0.49%. Alphabet’s payout ratio 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.