Apollon Wealth Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Apollon Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,279 shares of the information services provider’s stock after purchasing an additional 2,751 shares during the quarter. Apollon Wealth Management LLC’s holdings in Alphabet were worth $23,788,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after acquiring an additional 15,848 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after acquiring an additional 1,798 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Alphabet by 19.0% in the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock valued at $13,100,000 after acquiring an additional 13,756 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Alphabet by 3.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 71,665 shares of the information services provider’s stock valued at $10,912,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Verus Capital Partners LLC increased its holdings in shares of Alphabet by 4.7% in the 1st quarter. Verus Capital Partners LLC now owns 24,459 shares of the information services provider’s stock valued at $3,724,000 after acquiring an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $181.97 on Tuesday. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The company has a market capitalization of $2.23 trillion, a P/E ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. The business has a 50 day moving average price of $164.92 and a 200 day moving average price of $171.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,752 shares of company stock valued at $40,156,829. Corporate insiders own 12.99% of the company’s stock.

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.