Insight Wealth Strategies LLC Acquires 8,469 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Insight Wealth Strategies LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 36.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 31,658 shares of the information services provider’s stock after acquiring an additional 8,469 shares during the period. Alphabet makes up 0.8% of Insight Wealth Strategies LLC’s holdings, making the stock its 29th largest position. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $5,993,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth about $41,000. Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet during the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Finally, Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.82.

Alphabet Stock Performance

Shares of Alphabet stock traded up $3.67 during trading on Monday, reaching $195.46. The company’s stock had a trading volume of 18,129,643 shares, compared to its average volume of 18,772,758. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The firm has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.35 and a beta of 0.98. The business’s 50-day moving average price is $180.24 and its 200-day moving average price is $172.46. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 155,887 shares of company stock worth $27,996,356. 11.55% of the stock is currently owned by company insiders.

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.