Global Retirement Partners LLC Makes New Investment in Alphabet Inc. $GOOGL

Global Retirement Partners LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 131,444 shares of the information services provider’s stock, valued at approximately $23,164,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Alphabet in the 2nd quarter worth $31,000. CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Christopher J. Hasenberg Inc raised its position in Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after acquiring an additional 152 shares during the period. Finally, S&T Bank PA lifted its holdings in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $317.62 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The business’s 50 day moving average price is $274.65 and its 200 day moving average price is $223.02. The company has a market cap of $3.83 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.85 and a beta of 1.07. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. Royal Bank Of Canada reissued a “buy” rating and set a $315.00 target price on shares of Alphabet in a research note on Tuesday. Susquehanna boosted their price objective on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Rosenblatt Securities increased their target price on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Roth Capital lifted their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,628 shares of company stock worth $50,942,622 in the last ninety days. 11.64% of the stock is owned by insiders.

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.