Western Wealth Management LLC Raises Position in Alphabet Inc. $GOOGL

Western Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,031 shares of the information services provider’s stock after buying an additional 1,705 shares during the period. Alphabet makes up about 0.9% of Western Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Western Wealth Management LLC’s holdings in Alphabet were worth $15,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gimbal Financial grew its position in shares of Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares in the last quarter. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% during the second 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 in the last quarter. Silver Coast Investments LLC boosted its holdings in shares of Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the period. Finally, Bfsg LLC grew its stake in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $320.02 on Friday. The stock has a 50-day simple moving average of $269.25 and a 200 day simple moving average of $218.76. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.56, 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 $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business 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 36.08%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This trade represents a 19.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 225,072 shares of company stock valued at $58,074,027. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GOOGL shares. Truist Financial raised their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Arete upped their target price on Alphabet from $220.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. HSBC raised their target price on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cantor Fitzgerald boosted their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

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.