Paulson Wealth Management Inc. Boosts Position in Alphabet Inc. $GOOG

Paulson Wealth Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 134.6% in the second quarter, HoldingsChannel.com reports. The firm owned 7,086 shares of the information services provider’s stock after buying an additional 4,066 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Alphabet were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Maltin Wealth Management Inc. lifted its position in shares of Alphabet by 9.0% during the 2nd quarter. Maltin Wealth Management Inc. now owns 5,100 shares of the information services provider’s stock worth $905,000 after buying an additional 422 shares during the last quarter. Savant Capital LLC raised its stake in Alphabet by 3.5% during the 2nd quarter. Savant Capital LLC now owns 168,527 shares of the information services provider’s stock worth $29,895,000 after acquiring an additional 5,765 shares in the last quarter. Valtinson Bruner Financial Planning LLC acquired a new stake in Alphabet during the 2nd quarter worth $217,000. Headland Capital LLC lifted its position in Alphabet by 5.2% in the second quarter. Headland Capital LLC now owns 2,732 shares of the information services provider’s stock valued at $485,000 after acquiring an additional 136 shares during the last quarter. Finally, OneAscent Family Office LLC boosted its stake in Alphabet by 26.1% in the second quarter. OneAscent Family Office LLC now owns 5,539 shares of the information services provider’s stock valued at $983,000 after acquiring an additional 1,147 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. Piper Sandler boosted their target price on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% 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, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 222,396 shares of company stock worth $54,105,275. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $279.70 on Friday. The stock has a fifty day moving average price of $251.81 and a 200 day moving average price of $205.14. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. 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 company has a market cap of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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 company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the company posted $2.12 EPS. Alphabet’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

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.