Global Wealth Management Investment Advisory Inc. Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Global Wealth Management Investment Advisory Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,263 shares of the information services provider's stock after buying an additional 3,300 shares during the period. Global Wealth Management Investment Advisory Inc.'s holdings in Alphabet were worth $4,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Hampshire Trust raised its holdings in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. bought a new position in Alphabet in the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock worth $962,000 after purchasing an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the third 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 in the last quarter. Finally, abrdn plc raised its holdings in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock traded up $2.82 during trading hours on Tuesday, reaching $178.12. 23,402,831 shares of the company traded hands, compared to its average volume of 27,097,613. 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 company has a market cap of $2.18 trillion, a P/E ratio of 23.62, a P/E/G ratio of 1.23 and a beta of 1.03. The firm has a 50-day moving average price of $166.74 and a 200 day moving average price of $170.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company's stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. Rosenblatt Securities reiterated a "neutral" rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. BMO Capital Markets restated an "outperform" rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Scotiabank upgraded Alphabet to a "strong-buy" rating in a report on Friday, October 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.