Clarion Wealth Managment Partners LLC Makes New $545,000 Investment in Alphabet Inc. $GOOGL

Clarion Wealth Managment Partners LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,091 shares of the information services provider’s stock, valued at approximately $545,000.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.3% during 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 acquiring an additional 6,733,278 shares during the last quarter. State Street Corp increased its position in Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 3.1% during 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 purchasing an additional 4,224,497 shares during the last quarter. Norges Bank purchased a new position in Alphabet during the second quarter worth approximately $21,944,208,000. Finally, Invesco Ltd. boosted its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after purchasing an additional 503,306 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Citizens Jmp increased their target price on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. KeyCorp reaffirmed an “overweight” rating and issued a $300.00 price objective (up from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Wolfe Research reissued an “outperform” rating and set a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Finally, Morgan Stanley increased 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. Four investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.22.

Alphabet Price Performance

Shares of GOOGL stock opened at $309.29 on Monday. The firm has a fifty day simple moving average of $283.14 and a 200-day simple moving average of $229.97. The company has a market capitalization of $3.73 trillion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. 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 (NASDAQ:GOOGL) last issued its quarterly earnings data 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Activity at Alphabet

In other 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 transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 222,750 shares of company stock valued at $60,496,098. Insiders own 11.55% 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.