Code Waechter LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Code Waechter LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 3,691 shares of the information services provider’s stock after acquiring an additional 211 shares during the period. Code Waechter LLC’s holdings in Alphabet were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC lifted its stake in shares of Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Wulff Hansen & CO. grew its stake in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock valued at $23,817,951 in the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GOOGL. The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Sanford C. Bernstein increased their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.

Alphabet Trading Down 0.7 %

Shares of GOOGL stock opened at $189.66 on Wednesday. The business has a 50-day moving average of $183.45 and a 200 day moving average of $173.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The stock has a market capitalization of $2.32 trillion, a PE ratio of 25.15, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is currently 10.61%.

About Alphabet

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.