OneAscent Wealth Management LLC Raises Stock Position in Alphabet Inc. $GOOGL

OneAscent Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,672 shares of the information services provider’s stock after purchasing an additional 634 shares during the quarter. Alphabet comprises about 0.4% of OneAscent Wealth Management LLC’s holdings, making the stock its 27th biggest holding. OneAscent Wealth Management LLC’s holdings in Alphabet were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG boosted its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,896 shares of company stock worth $47,653,637 over the last quarter. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial increased their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and increased their price target for the stock from $260.00 to $320.00 in a research note on Tuesday. CIBC lifted their price target on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Alphabet Stock Down 0.3%

Shares of Alphabet stock opened at $284.28 on Wednesday. The company has a 50-day simple moving average of $259.16 and a two-hundred day simple moving average of $211.00. The stock has a market capitalization of $3.43 trillion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $293.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend 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 (DPR) is presently 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.