Alphabet Inc. $GOOGL Holdings Increased by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,028 shares of the information services provider’s stock after acquiring an additional 223 shares during the period. Alphabet makes up approximately 0.8% of Birchcreek Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. Birchcreek Wealth Management LLC’s holdings in Alphabet were worth $1,415,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Alphabet in the first quarter worth about $50,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $299.66 on Friday. The stock has a fifty day moving average of $262.39 and a 200-day moving average of $213.40. The firm has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $306.42. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,174 shares of company stock valued at $58,095,223 over the last ninety days. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and set a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. President Capital upped their price target on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Rosenblatt Securities increased their price objective on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley lifted their target price on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $305.33.

Alphabet Company 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.