U S Wealth Group LLC. Buys 11,873 Shares of Alphabet Inc. $GOOGL

U S Wealth Group LLC. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 43.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,241 shares of the information services provider’s stock after purchasing an additional 11,873 shares during the period. Alphabet comprises about 6.2% of U S Wealth Group LLC.’s holdings, making the stock its 4th biggest holding. U S Wealth Group LLC.’s holdings in Alphabet were worth $9,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the second quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Alphabet in the third quarter worth approximately $53,000. iSAM Funds UK Ltd purchased a new position in shares of Alphabet in the third quarter worth approximately $53,000. Corsicana & Co. purchased a new position in shares of Alphabet in the third quarter worth approximately $54,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the sale, the director directly owned 18,418 shares of the company’s stock, valued at $5,580,469.82. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 47,574 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. This trade represents a 78.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,076,615 shares of company stock worth $107,809,111 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.8%

Alphabet stock opened at $310.92 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.76 trillion, a P/E ratio of 28.76, a P/E/G ratio of 1.79 and a beta of 1.10. The company’s fifty day simple moving average is $318.83 and its 200-day simple moving average is $291.74.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is currently 7.77%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating and issued a $400.00 price objective (up from $325.00) on shares of Alphabet in a research note on Thursday, February 5th. Loop Capital increased their target price on Alphabet from $320.00 to $355.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $385.00 target price on Alphabet in a research report on Thursday, February 5th. Citigroup lifted their price target on Alphabet from $350.00 to $390.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Wells Fargo & Company set a $354.00 price target on Alphabet and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $367.18.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.