Westwood Wealth Management Purchases 5,760 Shares of Alphabet Inc. $GOOGL

Westwood Wealth Management increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,037 shares of the information services provider’s stock after purchasing an additional 5,760 shares during the quarter. Alphabet accounts for 4.0% of Westwood Wealth Management’s investment portfolio, making the stock its 7th biggest holding. Westwood Wealth Management’s holdings in Alphabet were worth $11,990,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Cantor Fitzgerald upped their target price on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Citic Securities boosted their price target on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Tigress Financial increased their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Finally, Bank of America lifted their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $304.10.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 2.8%

NASDAQ GOOGL opened at $278.57 on Friday. The firm has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 27.47, 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. Alphabet Inc. has a one year low of $140.53 and a one year high of $292.01. The company’s 50 day moving average price is $256.42 and its 200 day moving average price is $207.79.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

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.