Noesis Capital Mangement Corp Acquires 428 Shares of Alphabet Inc. $GOOGL

Noesis Capital Mangement Corp lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 30,586 shares of the information services provider’s stock after buying an additional 428 shares during the period. Noesis Capital Mangement Corp’s holdings in Alphabet were worth $5,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Smart Money Group LLC grew its position in Alphabet by 9.4% during the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after buying an additional 532 shares in the last quarter. Heritage Wealth Management Inc. increased its stake in Alphabet by 8.6% during the first quarter. Heritage Wealth Management Inc. now owns 10,695 shares of the information services provider’s stock valued at $1,654,000 after acquiring an additional 845 shares during the period. Finally, Apex Wealth Management LLC raised its holdings in Alphabet by 8.6% in the 1st quarter. Apex Wealth Management LLC now owns 3,966 shares of the information services provider’s stock valued at $613,000 after acquiring an additional 315 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOGL shares. DA Davidson lifted their price objective on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Needham & Company LLC lifted their price target on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Jefferies Financial Group boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Piper Sandler restated an “overweight” rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, BNP Paribas Exane raised their price objective on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Stock Up 4.0%

GOOGL opened at $290.10 on Tuesday. The firm has a market cap of $3.51 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50-day simple moving average is $252.77 and its 200-day simple moving average is $205.82. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer 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 position. The SEC filing for this sale provides additional information. Insiders sold 222,396 shares of company stock worth $54,105,275 over the last 90 days. Company insiders own 11.64% of the company’s stock.

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.