Guardian Wealth Management Inc. Acquires 2,072 Shares of Alphabet Inc. $GOOG

Guardian Wealth Management Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 231.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,969 shares of the information services provider’s stock after acquiring an additional 2,072 shares during the quarter. Guardian Wealth Management Inc.’s holdings in Alphabet were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Readystate Asset Management LP purchased a new position in Alphabet during the second quarter valued at $45,352,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Alphabet by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 14,581,870 shares of the information services provider’s stock worth $4,182,952,000 after buying an additional 6,300,900 shares during the period. State Street Corp grew its stake in shares of Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock valued at $67,458,980,000 after acquiring an additional 5,208,690 shares during the period. BlackRock Inc. increased its holdings in Alphabet by 1.4% in the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after acquiring an additional 5,164,200 shares in the last quarter. Finally, Amundi increased its holdings in Alphabet by 22.9% in the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock worth $6,288,654,000 after acquiring an additional 4,083,758 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares of the company’s stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 247 shares of company stock valued at $79,238 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Scotiabank reissued a “sector outperform” rating and issued a $375.00 price objective (down from $450.00) on shares of Alphabet in a research note on Thursday, October 29th. BMO Capital Markets set a $425.00 target price on Alphabet in a research note on Thursday, October 29th. UBS Group reaffirmed a “reduce” rating on shares of Alphabet in a report on Thursday, October 29th. Wolfe Research reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, August 27th. Finally, KeyCorp reissued an “overweight” rating and issued a $385.00 target price on shares of Alphabet in a report on Thursday, October 29th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $413.38.

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Alphabet Stock Up 0.8%

NASDAQ GOOG opened at $283.93 on Friday. The company has a market capitalization of $3.47 trillion, a P/E ratio of 14.82, a P/E/G ratio of 0.84 and a beta of 1.21. The stock has a 50 day moving average price of $329.78 and a 200-day moving average price of $337.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a one year low of $271.41 and a one year high of $404.47.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $3.01 by ($0.89). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.97 billion. During the same quarter last year, the business earned $2.87 EPS. Alphabet’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 19.80 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

Alphabet Company Profile

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer.

Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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