Alphabet Inc. $GOOGL Shares Purchased by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 41.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,902 shares of the information services provider’s stock after acquiring an additional 23,579 shares during the quarter. Alphabet makes up approximately 2.4% of Destiny Wealth Partners LLC’s holdings, making the stock its 10th biggest position. Destiny Wealth Partners LLC’s holdings in Alphabet were worth $19,424,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Breakwater Investment Management increased its stake in Alphabet by 1.0% in the 3rd quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after buying an additional 41 shares during the last quarter. Beddow Capital Management Inc. grew its holdings in shares of Alphabet by 2.0% in the 2nd quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock valued at $445,000 after acquiring an additional 50 shares in the last quarter. Gimbal Financial increased its position in shares of Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the last quarter. Missouri Trust & Investment Co raised its holdings in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares in the last quarter. Finally, Silver Coast Investments LLC raised its holdings in Alphabet by 1.3% during the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.9%

Alphabet stock opened at $302.46 on Friday. The company’s 50-day moving average price is $287.77 and its two-hundred day moving average price is $232.84. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.65 trillion, a P/E ratio of 29.83, a P/E/G ratio of 1.72 and a beta of 1.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve 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 the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for 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%. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction 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 sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was 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 in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,128 shares of company stock worth $63,183,331 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DA Davidson restated a “neutral” rating and issued a $300.00 price target on shares of Alphabet in a research note on Tuesday, November 25th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Truist Financial set a $350.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Moffett Nathanson boosted their price target on Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.18.

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.