OneAscent Wealth Management LLC Grows Stake in Alphabet Inc. $GOOGL

OneAscent Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,672 shares of the information services provider’s stock after acquiring an additional 634 shares during the quarter. Alphabet accounts for 0.4% of OneAscent Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. OneAscent Wealth Management LLC’s holdings in Alphabet were worth $1,176,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raelipskie Partnership grew its stake in shares of Alphabet by 10.4% during the 2nd quarter. Raelipskie Partnership now owns 15,067 shares of the information services provider’s stock valued at $2,655,000 after purchasing an additional 1,415 shares during the period. Modera Wealth Management LLC boosted its holdings in shares of Alphabet by 2.4% in the second quarter. Modera Wealth Management LLC now owns 99,338 shares of the information services provider’s stock worth $17,506,000 after buying an additional 2,375 shares during the last quarter. Twin Capital Management Inc. grew its position in Alphabet by 1.7% during the second quarter. Twin Capital Management Inc. now owns 150,499 shares of the information services provider’s stock valued at $26,522,000 after buying an additional 2,474 shares during the period. Soltis Investment Advisors LLC increased its holdings in Alphabet by 21.1% during the second quarter. Soltis Investment Advisors LLC now owns 104,390 shares of the information services provider’s stock valued at $18,397,000 after buying an additional 18,153 shares during the last quarter. Finally, Souders Financial Advisors raised its position in Alphabet by 16.8% in the second quarter. Souders Financial Advisors now owns 12,468 shares of the information services provider’s stock worth $2,197,000 after acquiring an additional 1,796 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. Evercore ISI boosted their price objective on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating and issued a $306.00 target price (up from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Barclays reaffirmed an “overweight” rating and issued a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Morgan Stanley boosted their price objective on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $284.28 on Wednesday. The stock has a 50-day moving average price of $259.16 and a 200 day moving average price of $211.00. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $293.95. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 189,896 shares of company stock valued at $47,653,637. Corporate insiders own 11.64% of the company’s stock.

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.