Flywheel Private Wealth LLC Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Flywheel Private Wealth LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,110 shares of the information services provider’s stock, valued at approximately $210,000.

A number of other hedge funds have also recently modified their holdings of GOOGL. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter valued at $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet in the 3rd quarter worth about $66,000. Finally, Mendota Financial Group LLC boosted its stake in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.15.

Alphabet Stock Up 1.6 %

GOOGL opened at $196.00 on Friday. The firm’s 50 day simple moving average is $184.08 and its two-hundred day simple moving average is $173.33. The company has a market capitalization of $2.40 trillion, a PE ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the firm earned $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders 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 dividend yield of 0.41%. Alphabet’s payout ratio is currently 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.