Grant Private Wealth Management Inc Raises Position in Alphabet Inc. $GOOGL

Grant Private Wealth Management Inc raised its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,494 shares of the information services provider’s stock after buying an additional 3,047 shares during the period. Alphabet comprises 3.3% of Grant Private Wealth Management Inc’s portfolio, making the stock its 6th biggest position. Grant Private Wealth Management Inc’s holdings in Alphabet were worth $5,475,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank increased its stake in shares of Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after buying an additional 3,120 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $303.41, for a total transaction of $318,580.50. Following the completion of the sale, the director owned 4,631 shares in the company, valued at approximately $1,405,091.71. The trade was a 18.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,110,165 shares of company stock valued at $118,134,117 in the last three months. Insiders own 11.64% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $301.00 on Friday. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 27.84, a P/E/G ratio of 1.76 and a beta of 1.10. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $349.00. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $317.62 and a two-hundred day moving average price of $293.14.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s dividend payout ratio is currently 7.77%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOGL shares. HSBC lifted their price target on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Arete Research raised their price objective on shares of Alphabet from $380.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. China Renaissance boosted their target price on shares of Alphabet from $330.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Wedbush upped their target price on shares of Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $415.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $367.18.

Read Our Latest Report on Alphabet

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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