Paulson Wealth Management Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Paulson Wealth Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,786 shares of the information services provider’s stock after selling 253 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Alphabet were worth $794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Trinity Financial Advisors LLC increased its holdings in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. abrdn plc raised its position in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. StoneCrest Wealth Management Inc. boosted its stake in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares during the period. Finally, EWG Elevate Inc. grew its position in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after buying an additional 115 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $169.12 on Wednesday. The company has a market cap of $2.07 trillion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The business has a fifty day moving average of $168.03 and a two-hundred day moving average of $170.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the business earned $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.