Alphabet Inc. $GOOG Shares Purchased by Earned Wealth Advisors LLC

Earned Wealth Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,183 shares of the information services provider’s stock after acquiring an additional 2,067 shares during the quarter. Earned Wealth Advisors LLC’s holdings in Alphabet were worth $3,195,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Alphabet by 1.3% in the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock valued at $33,511,477,000 after acquiring an additional 2,428,266 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Alphabet by 5.8% in the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock valued at $9,749,864,000 after acquiring an additional 2,209,203 shares in the last quarter. Legal & General Group Plc raised its holdings in Alphabet by 0.7% in the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock valued at $7,935,671,000 after acquiring an additional 223,743 shares in the last quarter. Finally, Capital World Investors raised its holdings in Alphabet by 1.9% in the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock valued at $6,971,769,000 after acquiring an additional 539,679 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.1%

GOOG stock opened at $303.93 on Wednesday. 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 twelve month low of $145.21 and a twelve month high of $350.15. The company’s 50 day moving average is $307.66 and its two-hundred day moving average is $297.91. The stock has a market cap of $3.68 trillion, a P/E ratio of 28.12, a PEG ratio of 1.80 and a beta of 1.13.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The business had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted $2.15 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders 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 dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 7.77%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. Raymond James Financial raised shares of Alphabet from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $315.00 to $400.00 in a report on Thursday, January 22nd. Sanford C. Bernstein reissued a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating and set a $400.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Finally, Scotiabank reissued an “outperform” rating and set a $400.00 price objective (up from $375.00) on shares of Alphabet in a report on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $345.71.

Read Our Latest Research Report on Alphabet

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 47,574 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares in the company, valued at approximately $3,987,279.15. This trade represents a 78.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $303.41, for a total transaction of $318,580.50. Following the transaction, the director owned 4,631 shares in the company, valued at approximately $1,405,091.71. This trade represents a 18.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,069,344 shares of company stock valued at $104,708,426. 12.99% of the stock is owned by company insiders.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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