Alphabet Inc. $GOOGL Shares Acquired by Triangle Securities Wealth Management

Triangle Securities Wealth Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 72.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,749 shares of the information services provider’s stock after buying an additional 1,995 shares during the period. Triangle Securities Wealth Management’s holdings in Alphabet were worth $1,154,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new position in Alphabet in the second quarter worth about $31,000. Corsicana & Co. acquired a new stake in Alphabet during the third quarter valued at approximately $54,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in 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 buying an additional 67 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after acquiring an additional 89 shares in the last quarter. Finally, S&T Bank PA increased its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 99 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $299.80, for a total transaction of $9,743,500.00. Following the sale, the chief executive officer directly owned 2,239,619 shares in the company, valued at approximately $671,437,776.20. The trade was a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,829 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the completion of the transaction, the insider owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 192,585 shares of company stock valued at $56,223,739. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $313.85 on Wednesday. The firm’s 50 day moving average is $298.00 and its two-hundred day moving average is $241.56. The firm has a market capitalization of $3.79 trillion, a P/E ratio of 30.95, a PEG ratio of 1.80 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued 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 was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOGL. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Tigress Financial raised their price target on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. DA Davidson reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Alphabet in a research report on Tuesday, November 25th. BNP Paribas Exane began coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Morgan Stanley lifted 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. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $315.90.

View Our Latest Analysis on GOOGL

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

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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