1900 Wealth Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

1900 Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 11,228 shares of the information services provider’s stock after buying an additional 122 shares during the period. 1900 Wealth Management LLC’s holdings in Alphabet were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after purchasing an additional 15,848 shares during the last quarter. Quent Capital LLC lifted its position in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Alphabet by 19.0% during the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares in the last quarter. Avalon Trust Co increased its holdings in shares of Alphabet by 2.1% in the 1st quarter. Avalon Trust Co now owns 469,451 shares of the information services provider’s stock valued at $71,479,000 after acquiring an additional 9,601 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in Alphabet by 7.6% during the first quarter. Forsta AP Fonden now owns 1,368,200 shares of the information services provider’s stock worth $208,322,000 after purchasing an additional 97,000 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG opened at $179.86 on Monday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a 50 day moving average of $164.92 and a two-hundred day moving average of $171.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.20 trillion, a P/E ratio of 23.85, a P/E/G ratio of 1.26 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GOOG shares. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,752 shares of company stock worth $40,156,829 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.