Westside Investment Management Inc. Has $8.27 Million Position in Alphabet Inc. $GOOGL

Westside Investment Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,939 shares of the information services provider’s stock after purchasing an additional 1,942 shares during the quarter. Alphabet comprises about 1.5% of Westside Investment Management Inc.’s portfolio, making the stock its 11th biggest holding. Westside Investment Management Inc.’s holdings in Alphabet were worth $8,269,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC grew its position in shares of Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares in the last quarter. Heritage Wealth Management Inc. increased its holdings in shares of Alphabet by 8.6% during the first quarter. Heritage Wealth Management Inc. now owns 10,695 shares of the information services provider’s stock worth $1,654,000 after purchasing an additional 845 shares during the period. Finally, Apex Wealth Management LLC raised its position in shares of Alphabet by 8.6% in the first quarter. Apex Wealth Management LLC now owns 3,966 shares of the information services provider’s stock valued at $613,000 after buying an additional 315 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,396 shares of company stock worth $54,105,275. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 4.0%

GOOGL stock opened at $290.10 on Tuesday. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The firm has a 50-day moving average price of $252.77 and a 200-day moving average price of $205.82.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Citic Securities increased their target price on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. CICC Research raised their price target on Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, HSBC increased their price objective on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet 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.