Ridgecrest Wealth Partners LLC Purchases 98 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ridgecrest Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,417 shares of the information services provider’s stock after acquiring an additional 98 shares during the quarter. Alphabet accounts for about 6.3% of Ridgecrest Wealth Partners LLC’s portfolio, making the stock its 3rd biggest holding. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $12,010,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. MorganRosel Wealth Management LLC raised its holdings in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in 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 purchasing an additional 60 shares during the period. First PREMIER Bank boosted its stake in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC increased its holdings in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Monday. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company’s fifty day simple moving average is $167.64 and its 200 day simple moving average is $170.36.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOGL. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.