Dynasty Wealth Management LLC Takes $6.50 Million Position in Alphabet Inc. $GOOG

Dynasty Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,677 shares of the information services provider’s stock, valued at approximately $6,497,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the period. State Street Corp lifted its holdings in Alphabet by 1.3% in the 2nd 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Alphabet by 6.4% in the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after purchasing an additional 2,117,990 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,503,035 shares of the information services provider’s stock worth $5,588,323,000 after purchasing an additional 695,736 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GOOG shares. Jefferies Financial Group restated a “buy” rating and set a $365.00 target price on shares of Alphabet in a report on Monday, January 5th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $375.00 price target on shares of Alphabet in a research note on Thursday, January 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $327.13.

View Our Latest Research Report on Alphabet

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $313.45, for a total value of $31,971.90. Following the completion of the sale, the director directly owned 18,205 shares of the company’s stock, valued at $5,706,357.25. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the transaction, the insider owned 42,972 shares in the company, valued at $13,531,453.08. This represents a 29.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 225,187 shares of company stock worth $69,365,318 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.6%

GOOG stock opened at $333.59 on Tuesday. The company has a 50 day moving average of $317.29 and a two-hundred day moving average of $262.47. The company has a market cap of $4.03 trillion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.81 and a beta of 1.09. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $341.20. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Profile

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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