Whalen Wealth Management Inc. Has $1.83 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Whalen Wealth Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,919 shares of the information services provider’s stock after purchasing an additional 1,347 shares during the period. Alphabet comprises about 1.3% of Whalen Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position. Whalen Wealth Management Inc.’s holdings in Alphabet were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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 note on Wednesday, October 30th. Finally, DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $176.80 on Tuesday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.16 trillion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The business’s fifty day moving average is $167.56 and its 200-day moving average is $171.80.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Alphabet Company 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.