Grant Private Wealth Management Inc Acquires New Holdings in Alphabet Inc. $GOOGL

Grant Private Wealth Management Inc bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, HoldingsChannel reports. The firm bought 14,447 shares of the information services provider’s stock, valued at approximately $3,512,000. Alphabet comprises about 2.2% of Grant Private Wealth Management Inc’s holdings, making the stock its 9th biggest holding.

Several other large investors have also modified their holdings of GOOGL. Breakwater Investment Management grew its holdings in Alphabet by 1.0% during the 3rd quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after buying an additional 41 shares during the last quarter. Beddow Capital Management Inc. boosted its stake in shares of Alphabet by 2.0% during the second quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock valued at $445,000 after acquiring an additional 50 shares during the last quarter. Gimbal Financial increased its position in Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co raised its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. Finally, Silver Coast Investments LLC lifted its holdings in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after purchasing an additional 55 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $299.80, for a total transaction of $9,743,500.00. Following the sale, the chief executive officer directly owned 2,239,619 shares in the company, valued at approximately $671,437,776.20. This trade represents a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This represents a 23.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,128 shares of company stock valued at $63,183,331 in the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $302.46 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The firm has a market capitalization of $3.65 trillion, a P/E ratio of 29.83, a P/E/G ratio of 1.72 and a beta of 1.07. The business’s 50-day simple moving average is $287.77 and its 200-day simple moving average is $232.84.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. KeyCorp reiterated an “overweight” rating and issued a $300.00 price target (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. BNP Paribas Exane began coverage on Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective for the company. Susquehanna increased their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Finally, Melius Research raised their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.18.

About Alphabet

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.