Weaver Consulting Group Has $1.60 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Weaver Consulting Group boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,625 shares of the information services provider’s stock after buying an additional 461 shares during the quarter. Weaver Consulting Group’s holdings in Alphabet were worth $1,596,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. LMR Partners LLP acquired a new position in Alphabet in the third quarter worth $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at $41,000. Finally, Quarry LP bought a new position in shares of Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $171.63 and a 200 day moving average price of $170.67. The stock has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. This represents a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,623 shares of company stock worth $34,413,006. Insiders own 11.55% of the company’s stock.

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.