KWB Wealth Invests $365,000 in Alphabet Inc. (NASDAQ:GOOGL)

KWB Wealth purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel reports. The firm purchased 1,929 shares of the information services provider’s stock, valued at approximately $365,000.

Several other hedge funds also recently made changes to their positions in the business. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% in 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 buying an additional 5,516 shares in the last quarter. abrdn plc grew its stake in shares of 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 buying an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of 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 buying an additional 140 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $195.55 on Thursday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $183.45 and its two-hundred day moving average price is $173.04. The stock has a market cap of $2.39 trillion, a PE ratio of 25.94, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. KeyCorp raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Wolfe Research raised their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Alphabet 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.