Abacus Wealth Partners LLC Has $628,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Abacus Wealth Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,784 shares of the information services provider’s stock after purchasing an additional 476 shares during the period. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $628,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the first quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. TD Securities boosted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial increased 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. Truist Financial reissued a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.95.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $163.24 on Monday. The stock’s 50 day moving average is $161.37 and its 200 day moving average is $167.86. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the company posted $1.44 EPS. Research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.