Ridgeline Wealth LLC Purchases Shares of 1,392 Alphabet Inc. (NASDAQ:GOOGL)

Ridgeline Wealth LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,392 shares of the information services provider’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LMR Partners LLP purchased a new position in Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter worth $41,000. Quarry LP acquired a new stake in Alphabet during the second quarter valued at $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter valued at $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 2.6 %

Shares of NASDAQ:GOOGL traded up $5.08 during trading on Monday, hitting $196.87. The company’s stock had a trading volume of 29,540,574 shares, compared to its average volume of 22,834,023. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.11, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The business has a 50 day moving average price of $180.24 and a two-hundred day moving average price of $172.46.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOGL shares. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.82.

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.