Uniting Wealth Partners LLC Purchases Shares of 6,330 Alphabet Inc. $GOOGL

Uniting Wealth Partners LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,330 shares of the information services provider’s stock, valued at approximately $1,539,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet in the second quarter worth $21,944,208,000. Laurel Wealth Advisors LLC grew its position in Alphabet by 17,667.7% in the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock valued at $2,686,640,000 after purchasing an additional 15,159,273 shares in the last quarter. Franklin Resources Inc. increased its stake in Alphabet by 51.7% in the 2nd quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock valued at $5,607,232,000 after buying an additional 10,843,853 shares during the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after buying an additional 6,733,278 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Alphabet by 201.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,547,250 shares of the information services provider’s stock worth $1,153,824,000 after buying an additional 4,374,542 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total value of $10,637,250.00. Following the transaction, the chief executive officer directly owned 2,211,872 shares of the company’s stock, valued at $723,945,705.60. This represents a 1.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The SEC filing for this sale provides additional information. Insiders sold a total of 2,112,482 shares of company stock worth $119,145,289 over the last three months. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 1.4%

GOOGL stock opened at $311.76 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $349.00. The stock has a market cap of $3.77 trillion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The company has a fifty day moving average price of $320.99 and a two-hundred day moving average price of $282.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s payout ratio is currently 7.77%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Canaccord Genuity Group set a $415.00 target price on Alphabet in a research report on Thursday, February 5th. Sanford C. Bernstein boosted their price target on Alphabet from $305.00 to $335.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. China Renaissance upped their price objective on Alphabet from $330.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Raymond James Financial raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, BNP Paribas Exane started coverage on shares of Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $366.57.

Check Out Our Latest Research Report on Alphabet

About Alphabet

(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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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