Insight Wealth Strategies LLC Has $5.99 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Insight Wealth Strategies LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 36.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,658 shares of the information services provider’s stock after purchasing an additional 8,469 shares during the quarter. Alphabet comprises 0.8% of Insight Wealth Strategies LLC’s portfolio, making the stock its 29th biggest holding. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $5,993,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Denver PWM LLC raised its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. First PREMIER Bank increased its stake in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Cutler Investment Counsel LLC raised its holdings in shares of Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares during the period. MKT Advisors LLC lifted its position in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the last quarter. Finally, Mendota Financial Group LLC boosted its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.9 %

Shares of NASDAQ:GOOGL traded up $3.67 during mid-day trading on Monday, hitting $195.46. The stock had a trading volume of 18,129,643 shares, compared to its average volume of 18,772,758. The company’s 50 day moving average is $180.24 and its 200-day moving average is $172.46. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.82.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.