Asempa Wealth Advisors Makes New Investment in Alphabet Inc. $GOOGL

Asempa Wealth Advisors acquired a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,444 shares of the information services provider’s stock, valued at approximately $765,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alphabet by 1.3% in 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 period. State Street Corp raised 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 acquiring an additional 4,008,374 shares during the period. Norges Bank acquired a new position in Alphabet during the second quarter worth $21,944,208,000. Capital World Investors lifted its holdings in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total value of $10,439,325.00. Following the completion of the sale, the chief executive officer directly owned 2,244,372 shares of the company’s stock, valued at $720,914,730.12. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction on Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director owned 4,631 shares in the company, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,110,165 shares of company stock worth $118,134,117. 11.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Moffett Nathanson boosted their target price on shares of Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Alphabet in a research note on Friday, March 13th. Royal Bank Of Canada lifted their price objective on Alphabet from $375.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. HSBC boosted their price objective on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Wedbush increased their target price on Alphabet from $360.00 to $370.00 and gave the company an “outperform” rating in a report 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 issued a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $367.18.

Read Our Latest Analysis on Alphabet

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 3.5%

Shares of NASDAQ GOOGL opened at $280.86 on Friday. The stock has a market cap of $3.40 trillion, a PE ratio of 25.98, a P/E/G ratio of 1.70 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $349.00. The company has a 50-day moving average of $314.18 and a 200 day moving average of $294.34.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 7.77%.

Alphabet Company Profile

(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.

Read More

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.