Carter Financial Group INC. Acquires New Position in Alphabet Inc. $GOOGL

Carter Financial Group INC. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,158 shares of the information services provider’s stock, valued at approximately $1,438,000. Alphabet makes up 0.9% of Carter Financial Group INC.’s holdings, making the stock its 27th biggest position.

Other institutional investors have also modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in Alphabet during the 2nd quarter worth $31,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake 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 valued at $57,000 after buying an additional 89 shares during the period. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after buying an additional 152 shares in the last quarter. Finally, S&T Bank PA increased its stake 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 worth $61,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $309.29 on Monday. The stock’s 50-day moving average is $283.14 and its two-hundred day moving average is $229.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a market cap of $3.73 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.79 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet 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 in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 222,750 shares of company stock worth $60,496,098. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley lifted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Cantor Fitzgerald boosted their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Melius Research raised their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Finally, Arete Research lifted their price target on Alphabet from $300.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.22.

Alphabet 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.