Long Run Wealth Advisors LLC Makes New $278,000 Investment in Alphabet Inc. $GOOGL

Long Run Wealth Advisors LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,580 shares of the information services provider’s stock, valued at approximately $278,000.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $50,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. President Capital upped their price target on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Oppenheimer upped their price objective on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Roth Capital lifted their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Citic Securities boosted their price target on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. This represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,896 shares of company stock valued at $47,653,637 over the last ninety days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Down 0.3%

Shares of NASDAQ GOOGL opened at $284.28 on Wednesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $293.95. The company has a market cap of $3.43 trillion, a P/E ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $259.16 and a 200 day moving average price of $211.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

About Alphabet

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.