Beirne Wealth Consulting Services LLC Has $2.37 Million Holdings in Alphabet Inc. $GOOGL

Beirne Wealth Consulting Services LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 94.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,740 shares of the information services provider’s stock after purchasing an additional 4,740 shares during the quarter. Beirne Wealth Consulting Services LLC’s holdings in Alphabet were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $53,000. Corsicana & Co. bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $54,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares in the last quarter. Finally, S&T Bank PA boosted its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the transaction, the chief executive officer owned 2,818,524 shares of the company’s stock, valued at $856,605,814.08. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 47,574 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the sale, the insider owned 13,227 shares in the company, valued at $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,078,926 shares of company stock valued at $108,426,720 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 1.0%

GOOGL opened at $303.58 on Wednesday. The stock has a fifty day moving average of $320.71 and a 200-day moving average of $284.77. The company has a market capitalization of $3.67 trillion, a P/E ratio of 28.08, a P/E/G ratio of 1.79 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. 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%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s payout ratio is 7.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOGL. HSBC boosted their target price on shares of Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Wells Fargo & Company set a $354.00 price objective on shares of Alphabet and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Roth Mkm raised their target price on shares of Alphabet from $365.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. KeyCorp set a $370.00 price target on Alphabet and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Alphabet from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $366.57.

View Our Latest Research Report on GOOGL

Alphabet 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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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