FSA Wealth Management LLC Invests $589,000 in Alphabet Inc. (NASDAQ:GOOGL)

FSA Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,551 shares of the information services provider’s stock, valued at approximately $589,000. Alphabet accounts for 0.2% of FSA Wealth Management LLC’s portfolio, making the stock its 26th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOGL opened at $191.96 on Friday. The company has a market capitalization of $2.35 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.24 and a beta of 1.01. The stock’s fifty day simple moving average is $170.66 and its 200-day simple moving average is $170.46. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $195.61. 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 released 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 firm 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 firm posted $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,123 shares of company stock worth $34,121,676 over the last three months. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. Morgan Stanley upped their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Roth Mkm lifted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted 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 equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.08.

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.