Baker Tilly Wealth Management LLC Purchases 1,058 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Baker Tilly Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,190 shares of the information services provider’s stock after acquiring an additional 1,058 shares during the period. Alphabet accounts for approximately 1.8% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Baker Tilly Wealth Management LLC’s holdings in Alphabet were worth $4,579,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its position in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares during the period. Geode Capital Management LLC increased its holdings in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $0.27 during trading on Friday, reaching $193.68. 9,026,248 shares of the company traded hands, compared to its average volume of 21,281,814. The stock has a market cap of $2.37 trillion, a P/E ratio of 25.69, a PEG ratio of 1.35 and a beta of 0.98. The firm’s fifty day simple moving average is $182.20 and its 200 day simple moving average is $173.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOOGL shares. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $207.08.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock worth $27,996,356 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet 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.