Greykasell Wealth Strategies Inc. Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,713 shares of the information services provider’s stock, valued at approximately $5,435,000. Alphabet makes up about 3.0% of Greykasell Wealth Strategies Inc.’s holdings, making the stock its 6th biggest holding.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in Alphabet by 20,990.0% during the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after acquiring an additional 6,157,413 shares during the period. Amundi grew its position in Alphabet by 18.7% in the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock worth $5,792,317,000 after purchasing an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Alphabet during the third quarter valued at $513,024,000. Finally, Geode Capital Management LLC increased its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $165.06 on Thursday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $181.11 and a two-hundred day moving average price of $176.78. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.50, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Citigroup decreased their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

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.