GeoWealth Management LLC Boosts Stake in Alphabet Inc. $GOOG

GeoWealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,947 shares of the information services provider’s stock after buying an additional 2,656 shares during the period. GeoWealth Management LLC’s holdings in Alphabet were worth $4,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. MGB Wealth Management LLC increased its position in shares of Alphabet by 4.6% in the first quarter. MGB Wealth Management LLC now owns 1,563 shares of the information services provider’s stock worth $244,000 after acquiring an additional 69 shares in the last quarter. WealthShield Partners LLC raised its position in Alphabet by 69.9% in the first quarter. WealthShield Partners LLC now owns 9,531 shares of the information services provider’s stock valued at $1,489,000 after purchasing an additional 3,920 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in Alphabet by 4.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider’s stock worth $3,929,000 after acquiring an additional 976 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter worth $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the sale, the director directly owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 196,406 shares of company stock valued at $51,743,408 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.7%

Shares of GOOG opened at $318.39 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The business’s 50-day moving average price is $275.23 and its 200 day moving average price is $223.79. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.84 trillion, a P/E ratio of 31.40, a P/E/G ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the business posted $2.12 EPS. The company’s revenue was up 15.9% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOG shares. Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. TD Cowen boosted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $307.22.

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.