Good Life Advisors LLC Raises Holdings in Alphabet Inc. $GOOGL

Good Life Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,216 shares of the information services provider’s stock after purchasing an additional 2,673 shares during the quarter. Good Life Advisors LLC’s holdings in Alphabet were worth $4,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $50,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.5%

Shares of GOOGL stock opened at $323.44 on Wednesday. The stock’s 50-day simple moving average is $265.17 and its 200-day simple moving average is $216.20. 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 $3.90 trillion, a PE ratio of 31.90, a P/E/G 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 $328.83.

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

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BNP Paribas Exane started coverage on shares of Alphabet in a research note on Monday. They issued an “outperform” rating and a $355.00 target price for the company. Loop Capital raised Alphabet from a “hold” rating to a “buy” rating and raised their price objective for the stock from $260.00 to $320.00 in a research report on Tuesday, November 18th. Needham & Company LLC boosted their target price on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. HSBC increased their price target on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Truist Financial boosted their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $307.84.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 225,174 shares of company stock worth $58,095,223 over the last ninety days. 11.64% of the stock is owned by insiders.

About Alphabet

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.