HHM Wealth Advisors LLC Increases Stake in Alphabet Inc. $GOOGL

HHM Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,284 shares of the information services provider’s stock after purchasing an additional 1,759 shares during the period. Alphabet accounts for 0.3% of HHM Wealth Advisors LLC’s holdings, making the stock its 24th biggest holding. HHM Wealth Advisors LLC’s holdings in Alphabet were worth $2,694,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its holdings in shares of Alphabet by 11.1% in the 2nd quarter. Wealthspire Advisors LLC now owns 93,448 shares of the information services provider’s stock valued at $16,468,000 after acquiring an additional 9,346 shares during the period. Cordatus Wealth Management LLC bought a new stake in Alphabet during the second quarter valued at about $758,000. Truffle Hound Capital LLC grew its stake in Alphabet by 40.6% in the second quarter. Truffle Hound Capital LLC now owns 45,000 shares of the information services provider’s stock valued at $7,930,000 after purchasing an additional 13,000 shares during the last quarter. Wescott Financial Advisory Group LLC raised its holdings in Alphabet by 1.8% in the second quarter. Wescott Financial Advisory Group LLC now owns 4,710 shares of the information services provider’s stock worth $830,000 after purchasing an additional 82 shares in the last quarter. Finally, Purus Wealth Management LLC grew its position in shares of Alphabet by 1.2% in the 2nd quarter. Purus Wealth Management LLC now owns 30,507 shares of the information services provider’s stock worth $5,376,000 after buying an additional 357 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. 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 90 days. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CIBC boosted their price target on Alphabet to $315.00 in a research note on Monday, October 20th. Susquehanna upped their price target on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. China Renaissance raised their target price on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Daiwa Capital Markets increased their price objective on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $307.84.

Alphabet Price Performance

GOOGL stock opened at $320.02 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. 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 firm has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $269.25 and a 200-day simple moving average of $219.56.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.