Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Highline Wealth Partners LLC

Highline Wealth Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.7% during the 4th quarter, Holdings Channel reports. The fund owned 23,164 shares of the information services provider’s stock after purchasing an additional 4,285 shares during the quarter. Alphabet makes up about 1.4% of Highline Wealth Partners LLC’s investment portfolio, making the stock its 21st largest position. Highline Wealth Partners LLC’s holdings in Alphabet were worth $4,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC lifted its holdings in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc boosted its holdings in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. increased its stake in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.0 %

Alphabet stock traded up $0.02 during mid-day trading on Friday, hitting $193.97. The company had a trading volume of 15,047,110 shares, compared to its average volume of 22,359,191. The stock has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The business has a fifty day moving average of $182.20 and a 200 day moving average of $173.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 155,887 shares of company stock valued at $27,996,356. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOOGL shares. Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Friday. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.08.

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.