Beaird Harris Wealth Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Beaird Harris Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,763 shares of the information services provider’s stock after buying an additional 366 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Alphabet were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its stake in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the period. Trinity Financial Advisors LLC raised its holdings in shares of Alphabet by 4.5% during 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 during the last quarter. Landscape Capital Management L.L.C. lifted its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares during the period. abrdn plc boosted 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 valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.69.

Alphabet Trading Up 0.1 %

GOOGL opened at $188.51 on Friday. The stock has a market capitalization of $2.31 trillion, a PE ratio of 25.00, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $173.99 and its 200 day moving average price is $171.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate 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 return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,957 shares of company stock worth $31,358,687. 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.