Wealth Alliance LLC Has $5.77 Million Stock Position in Alphabet Inc. $GOOGL

Wealth Alliance LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 32,764 shares of the information services provider’s stock after selling 5,014 shares during the period. Alphabet makes up approximately 0.6% of Wealth Alliance LLC’s portfolio, making the stock its 26th largest position. Wealth Alliance LLC’s holdings in Alphabet were worth $5,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $50,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. New Street Research upped their price objective on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Needham & Company LLC increased their price objective on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. President Capital raised their target price on shares of Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.65.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale 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 that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $318.58 on Tuesday. The firm has a market capitalization of $3.84 trillion, a PE ratio of 31.42, a PEG ratio of 1.86 and a beta of 1.05. The company’s 50-day moving average is $263.73 and its 200-day moving average is $215.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $319.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business 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 analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

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.