Whalen Wealth Management Inc. Grows Holdings in Alphabet Inc. $GOOGL

Whalen Wealth Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,843 shares of the information services provider’s stock after buying an additional 430 shares during the period. Whalen Wealth Management Inc.’s holdings in Alphabet were worth $677,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in the 1st 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 during the period. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter valued at about $39,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $278.83 on Monday. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average price of $251.23 and a 200-day moving average price of $204.90.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 222,396 shares of company stock valued at $54,105,275. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GOOGL shares. Wedbush reiterated an “outperform” rating and issued a $320.00 target price (up from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Wells Fargo & Company upped their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Morgan Stanley boosted their target price on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

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.