Annex Advisory Services LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Annex Advisory Services LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,306 shares of the information services provider’s stock after acquiring an additional 1,272 shares during the period. Annex Advisory Services LLC’s holdings in Alphabet were worth $7,630,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC raised its position in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new stake in shares of Alphabet in the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet during the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC increased its stake in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOGL shares. Wedbush upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research boosted 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. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $208.67.

Alphabet Stock Performance

Shares of GOOGL stock opened at $198.37 on Thursday. The stock has a market cap of $2.43 trillion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The business has a 50-day simple moving average of $185.07 and a 200-day simple moving average of $173.38. 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 quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 quarter in the prior year, the firm posted $1.55 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% of the company’s stock.

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.