CreativeOne Wealth LLC Increases Stock Holdings in Alphabet Inc. $GOOGL

CreativeOne Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,839 shares of the information services provider’s stock after acquiring an additional 6,264 shares during the quarter. CreativeOne Wealth LLC’s holdings in Alphabet were worth $25,172,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its position in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after buying an additional 6,733,278 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after buying an additional 4,224,497 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. boosted its stake in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 226,128 shares of company stock worth $61,326,372. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOGL. Evercore ISI boosted their target price on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wolfe Research restated an “outperform” rating and set a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Four research 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. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $312.65.

Alphabet Trading Up 1.1%

NASDAQ:GOOGL opened at $321.27 on Friday. The firm has a market capitalization of $3.88 trillion, a P/E ratio of 31.68, a P/E/G ratio of 1.84 and a beta of 1.07. The business has a 50 day simple moving average of $276.15 and a 200 day simple moving average of $224.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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