SOA Wealth Advisors LLC. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

SOA Wealth Advisors LLC. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,379 shares of the information services provider’s stock after acquiring an additional 202 shares during the period. Alphabet comprises approximately 1.2% of SOA Wealth Advisors LLC.’s portfolio, making the stock its 19th largest position. SOA Wealth Advisors LLC.’s holdings in Alphabet were worth $6,199,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $188.40 on Thursday. The company has a market cap of $2.31 trillion, a P/E ratio of 24.99, a P/E/G ratio of 1.39 and a beta of 1.01. The firm’s 50 day moving average is $173.46 and its two-hundred day moving average is $171.09. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,957 shares of company stock worth $31,358,687. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. Piper Sandler restated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Tigress Financial upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, Evercore ISI raised their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.69.

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.