Financial Advocates Investment Management Increases Stock Holdings in Alphabet Inc. $GOOGL

Financial Advocates Investment Management grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 107.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,365 shares of the information services provider’s stock after purchasing an additional 13,158 shares during the quarter. Financial Advocates Investment Management’s holdings in Alphabet were worth $4,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Smart Money Group LLC increased its holdings in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after acquiring an additional 532 shares in the last quarter. United Bank raised its stake in Alphabet by 2.1% during the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after acquiring an additional 910 shares during the period. Finally, Integrated Investment Consultants LLC lifted its holdings in Alphabet by 16.4% during the first quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock valued at $4,193,000 after purchasing an additional 3,822 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 102 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer directly owned 11,740 shares in the company, valued at $3,721,580. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Wolfe Research reissued an “outperform” rating and issued a $350.00 price objective (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Royal Bank Of Canada reiterated a “buy” rating and issued a $315.00 price target on shares of Alphabet in a research note on Tuesday. HSBC boosted their price objective on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna increased their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Finally, Mizuho set a $325.00 target price on Alphabet in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.65.

Alphabet Price Performance

Shares of Alphabet stock opened at $321.27 on Friday. The firm has a market cap of $3.88 trillion, a PE ratio of 31.68, a PEG ratio of 1.84 and a beta of 1.07. The stock has a 50 day moving average of $276.15 and a 200 day moving average of $224.09. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. 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 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 firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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