Stockman Wealth Management Inc. Buys 3,542 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stockman Wealth Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 68,556 shares of the information services provider’s stock after acquiring an additional 3,542 shares during the period. Alphabet comprises about 1.8% of Stockman Wealth Management Inc.’s holdings, making the stock its 19th biggest position. Stockman Wealth Management Inc.’s holdings in Alphabet were worth $11,370,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $41,000. Quarry LP bought a new position in Alphabet in the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet in the second quarter valued at approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $164.76 on Monday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The company’s fifty day moving average price is $167.64 and its two-hundred day moving average price is $170.36.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business 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 in the prior year, the business posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JMP Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.

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.