Founders Financial Securities LLC Purchases 2,460 Shares of Alphabet Inc. $GOOGL

Founders Financial Securities LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,553 shares of the information services provider’s stock after acquiring an additional 2,460 shares during the quarter. Founders Financial Securities LLC’s holdings in Alphabet were worth $5,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Truist Financial Corp boosted its holdings in Alphabet by 2.3% in the second quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock valued at $448,684,000 after purchasing an additional 56,295 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC lifted its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC lifted its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares during the last quarter. Finally, Welch Group LLC grew its holdings in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

GOOGL stock opened at $313.85 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The firm has a 50-day moving average of $298.00 and a two-hundred day moving average of $241.56. The firm has a market capitalization of $3.79 trillion, a PE ratio of 30.95, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly 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 net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the sale, the chief accounting officer owned 11,739 shares in the company, valued at $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 192,585 shares of company stock worth $56,223,739 over the last three months. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Rosenblatt Securities lifted their price objective on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Citic Securities boosted their price target on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 3rd. BMO Capital Markets increased their price objective on shares of Alphabet from $340.00 to $343.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Finally, Daiwa Capital Markets lifted their target price on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.90.

Read Our Latest Stock Analysis on Alphabet

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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