Alphabet Inc. $GOOG Stake Lifted by Guardian Wealth Management Inc.

Guardian Wealth Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 231.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,969 shares of the information services provider’s stock after buying an additional 2,072 shares during the quarter. Guardian Wealth Management Inc.’s holdings in Alphabet were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Readystate Asset Management LP bought a new position in shares of Alphabet in the second quarter worth $45,352,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Alphabet by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 14,581,870 shares of the information services provider’s stock valued at $4,182,952,000 after acquiring an additional 6,300,900 shares during the period. State Street Corp boosted its position in shares of Alphabet by 2.8% in the second quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock valued at $67,458,980,000 after acquiring an additional 5,208,690 shares during the period. BlackRock Inc. grew its stake in Alphabet by 1.4% during the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after acquiring an additional 5,164,200 shares in the last quarter. Finally, Amundi increased its holdings in Alphabet by 22.9% during the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock worth $6,288,654,000 after acquiring an additional 4,083,758 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GOOG shares. Tigress Financial raised their price target on shares of Alphabet from $415.00 to $485.00 and gave the company a “strong-buy” rating in a report on Friday, September 18th. Oppenheimer reiterated an “outperform” rating and issued a $400.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Morgan Stanley restated an “overweight” rating and issued a $375.00 target price on shares of Alphabet in a research note on Thursday, October 29th. Evercore reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Alphabet in a report on Thursday, October 29th. Finally, Freedom Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.38.

View Our Latest Analysis on Alphabet

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insider Activity

In other Alphabet news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 247 shares of company stock valued at $79,238. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $283.93 on Friday. The stock’s 50-day simple moving average is $329.78 and its two-hundred day simple moving average is $337.01. Alphabet Inc. has a twelve month low of $271.41 and a twelve month high of $404.47. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.84 and a beta of 1.21.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analysts’ expectations of $127.97 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. Alphabet’s revenue for the quarter was up 24.7% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 19.80 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

About Alphabet

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer.

Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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