BIP Wealth LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

BIP Wealth LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,302 shares of the information services provider’s stock after acquiring an additional 354 shares during the quarter. BIP Wealth LLC’s holdings in Alphabet were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. New Hampshire Trust grew its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the period. Schear Investment Advisers LLC raised its holdings in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC boosted its position in 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 in the last quarter. abrdn plc grew 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. increased its position 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. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. JMP Securities increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $171.34 on Wednesday. The company has a market cap of $2.10 trillion, a PE ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm has a 50-day simple moving average of $168.84 and a 200 day simple moving average of $170.26. 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 posted its 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 company had revenue of $88.27 billion during 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 period in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.