Cedar Wealth Management LLC Buys 4,187 Shares of Alphabet Inc. $GOOGL

Cedar Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 34.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,183 shares of the information services provider’s stock after buying an additional 4,187 shares during the quarter. Alphabet accounts for 1.0% of Cedar Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Cedar Wealth Management LLC’s holdings in Alphabet were worth $2,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its position in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC grew its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares during the last quarter. Welch Group LLC increased its holdings in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management raised its stake in shares of Alphabet by 4.8% in the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,072 shares of company stock valued at $58,074,027 in the last three months. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. China Renaissance boosted their price objective on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group increased their target price on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company lifted their price target on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Finally, DA Davidson reiterated a “neutral” rating and set a $300.00 price target on shares of Alphabet in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Stock Down 1.1%

Shares of NASDAQ:GOOGL opened at $319.95 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average of $267.94 and a 200-day moving average of $217.64. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.