Elyxium Wealth LLC Boosts Holdings in Alphabet Inc. $GOOGL

Elyxium Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% during the 2nd quarter, Holdings Channel reports. The firm owned 17,484 shares of the information services provider’s stock after purchasing an additional 1,036 shares during the quarter. Alphabet makes up approximately 1.2% of Elyxium Wealth LLC’s investment portfolio, making the stock its 22nd largest position. Elyxium Wealth LLC’s holdings in Alphabet were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Smart Money Group LLC lifted its holdings in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares in the last quarter. Callahan Advisors LLC boosted its stake in Alphabet by 9.7% during the 1st quarter. Callahan Advisors LLC now owns 31,447 shares of the information services provider’s stock worth $4,863,000 after purchasing an additional 2,776 shares during the last quarter. Finally, Austin Wealth Management LLC boosted its stake in Alphabet by 17.0% during the 1st quarter. Austin Wealth Management LLC now owns 7,596 shares of the information services provider’s stock worth $1,210,000 after purchasing an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 221,796 shares of company stock valued at $53,983,001. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Truist Financial increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. CIBC raised their target price on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Wolfe Research restated an “outperform” rating and set a $350.00 target price (up from $290.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Trading Down 0.8%

Shares of Alphabet stock opened at $276.41 on Friday. The stock has a 50 day moving average of $257.24 and a 200 day moving average of $208.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 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.