National Wealth Management Group LLC Acquires 2,033 Shares of Alphabet Inc. $GOOGL

National Wealth Management Group LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 19.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,291 shares of the information services provider’s stock after acquiring an additional 2,033 shares during the period. Alphabet makes up about 1.1% of National Wealth Management Group LLC’s investment portfolio, making the stock its 22nd biggest position. National Wealth Management Group LLC’s holdings in Alphabet were worth $2,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Moment Partners LLC boosted its stake in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares in the last quarter. Welch Group LLC raised its holdings in shares of Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares during the last quarter. Brooktree Capital Management bought a new position in shares of Alphabet in the second quarter valued at about $352,000. Griffin Asset Management Inc. lifted its position in Alphabet by 13.9% during the 3rd quarter. Griffin Asset Management Inc. now owns 58,731 shares of the information services provider’s stock worth $14,277,000 after buying an additional 7,180 shares in the last quarter. Finally, Birchcreek Wealth Management LLC grew its holdings in Alphabet by 2.9% during the 2nd quarter. Birchcreek Wealth Management LLC now owns 8,028 shares of the information services provider’s stock worth $1,415,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Trending Headlines about Alphabet

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Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $324.32 on Tuesday. The company has a market capitalization of $3.91 trillion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.78 and a beta of 1.09. The firm’s 50 day simple moving average is $321.80 and its 200 day simple moving average is $272.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The firm had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s payout ratio is presently 7.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday. CICC Research boosted their price objective on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Canadian Imperial Bank of Commerce increased their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. Finally, KeyCorp set a $370.00 target price on Alphabet and gave the stock an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.46.

Read Our Latest Stock Analysis on GOOGL

Insider Buying and Selling

In related news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $335.18, for a total value of $10,893,350.00. Following the transaction, the chief executive officer directly owned 2,179,372 shares of the company’s stock, valued at $730,481,906.96. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,067,686 shares of company stock valued at $105,352,291. 11.55% of the stock is owned by company insiders.

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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