W.H. Cornerstone Investments Inc. Has $3.72 Million Stake in Alphabet Inc. $GOOGL

W.H. Cornerstone Investments Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,132 shares of the information services provider’s stock after selling 681 shares during the quarter. Alphabet comprises approximately 2.4% of W.H. Cornerstone Investments Inc.’s investment portfolio, making the stock its 11th biggest position. W.H. Cornerstone Investments Inc.’s holdings in Alphabet were worth $3,724,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $50,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. JPMorgan Chase & Co. raised their target price on Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Arete increased their price target on Alphabet from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Mizuho set a $325.00 price objective on Alphabet in a research report on Thursday, October 30th. Finally, Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $323.44 on Wednesday. The company has a market capitalization of $3.90 trillion, a PE ratio of 31.90, a P/E/G ratio of 1.86 and a beta of 1.05. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The firm has a fifty day simple moving average of $265.17 and a 200 day simple moving average of $216.20.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend 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%.

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.