Geneos Wealth Management Inc. Buys 33,983 Shares of Alphabet Inc. $GOOGL

Geneos Wealth Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 45.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 108,346 shares of the information services provider’s stock after purchasing an additional 33,983 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Alphabet were worth $19,094,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Financial Gravity Companies Inc. purchased a new position in Alphabet during the 2nd quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the last quarter. S&T Bank PA grew its holdings in shares of Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares during the last quarter. Finally, Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 77.6% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after purchasing an additional 152 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $309.29 on Friday. The firm has a market cap of $3.73 trillion, a P/E ratio of 30.50, a PEG ratio of 1.79 and a beta of 1.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The company has a 50 day simple moving average of $283.14 and a two-hundred day simple moving average of $229.57. 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 (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 payout ratio is presently 8.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Citic Securities raised their target price on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Rosenblatt Securities raised their price objective on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $365.00 target price (up from $330.00) on shares of Alphabet in a report on Thursday. 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 stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.22.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s 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 owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,128 shares of company stock valued at $61,326,372 over the last 90 days. Company insiders own 11.64% of the company’s stock.

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.