Litman Gregory Wealth Management LLC Purchases 2,930 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Litman Gregory Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,783 shares of the information services provider’s stock after purchasing an additional 2,930 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $10,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc grew its stake 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 worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth approximately $41,000. Quarry LP bought a new stake in shares of Alphabet in the second quarter worth approximately $53,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.1 %

Shares of GOOGL opened at $171.29 on Monday. The company’s fifty day moving average is $162.43 and its 200 day moving average is $169.10. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.11 trillion, a PE ratio of 22.72, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock worth $37,776,954 over the last quarter. Insiders own 11.55% of the company’s stock.

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.