Facet Wealth Inc. Has $1.77 Million Stake in Alphabet Inc. $GOOGL

Facet Wealth Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 43.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,217 shares of the information services provider’s stock after buying an additional 2,811 shares during the quarter. Facet Wealth Inc.’s holdings in Alphabet were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. United Capital Management of KS Inc. increased its stake in shares of Alphabet by 7.7% during the 2nd quarter. United Capital Management of KS Inc. now owns 45,260 shares of the information services provider’s stock worth $7,976,000 after purchasing an additional 3,229 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in Alphabet by 11.4% in the 2nd quarter. Liberty Wealth Management LLC now owns 12,601 shares of the information services provider’s stock valued at $2,231,000 after purchasing an additional 1,291 shares during the last quarter. Maytree Asset Management Ltd grew its holdings in Alphabet by 123.7% during the second quarter. Maytree Asset Management Ltd now owns 8,500 shares of the information services provider’s stock worth $1,498,000 after purchasing an additional 4,700 shares during the period. Convergence Investment Partners LLC increased its position in Alphabet by 23.8% during the second quarter. Convergence Investment Partners LLC now owns 42,076 shares of the information services provider’s stock worth $7,415,000 after buying an additional 8,090 shares during the last quarter. Finally, Oak Grove Capital LLC increased its position in Alphabet by 215.9% during the second quarter. Oak Grove Capital LLC now owns 95,400 shares of the information services provider’s stock worth $16,812,000 after buying an additional 65,200 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOGL. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price objective (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Melius Research increased their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Daiwa Capital Markets raised their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 222,396 shares of company stock valued at $54,105,275. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Down 2.1%

GOOGL stock opened at $278.83 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The business’s fifty day moving average price is $251.23 and its two-hundred day moving average price is $204.19.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.