Diversify Wealth Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Diversify Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 41.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,192 shares of the information services provider's stock after purchasing an additional 5,306 shares during the quarter. Diversify Wealth Management LLC's holdings in Alphabet were worth $2,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Hampshire Trust increased its holdings in shares of Alphabet by 2.7% during 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. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP increased its position in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after acquiring an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after acquiring an additional 190 shares during the last quarter. Finally, abrdn plc boosted its stake in Alphabet by 10.7% during 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 during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 700 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares of the company's stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company's stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 in the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 0.7 %

Shares of GOOGL traded up $1.27 during trading hours on Tuesday, hitting $181.62. The company had a trading volume of 25,122,860 shares, compared to its average volume of 27,119,752. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a market capitalization of $2.22 trillion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company's fifty day moving average price is $163.88 and its two-hundred day moving average price is $169.91. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly 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 firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company earned $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOOGL shares. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. BMO Capital Markets reissued an "outperform" rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Rosenblatt Securities reiterated a "neutral" rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $190.00 price objective on shares of Alphabet in a research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.