Stratos Wealth Partners LTD. Has $103.02 Million Stake in Alphabet Inc. $GOOGL

Stratos Wealth Partners LTD. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,150 shares of the information services provider’s stock after buying an additional 10,200 shares during the period. Alphabet makes up about 1.2% of Stratos Wealth Partners LTD.’s investment portfolio, making the stock its 10th largest holding. Stratos Wealth Partners LTD.’s holdings in Alphabet were worth $103,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. PMV Capital Advisers LLC bought a new stake in Alphabet during the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Alphabet during the 3rd quarter valued at $53,000. iSAM Funds UK Ltd bought a new stake in Alphabet during the 3rd quarter valued at $53,000. Corsicana & Co. bought a new stake in Alphabet during the 3rd quarter valued at $54,000. Finally, Sellwood Investment Partners LLC bought a new stake in Alphabet during the 3rd quarter valued at $63,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Roth Mkm lifted their target price on Alphabet from $365.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Rosenblatt Securities lifted their target price on Alphabet from $279.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Loop Capital lifted their target price on Alphabet from $320.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Argus lifted their target price on Alphabet from $365.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group lifted their target price on Alphabet from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.76.

View Our Latest Stock Report on Alphabet

Alphabet Stock Performance

GOOGL opened at $321.39 on Tuesday. The company has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a 1-year low of $146.10 and a 1-year high of $349.00. The business has a 50 day moving average price of $306.41 and a two-hundred day moving average price of $299.57.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The firm had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the sale, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,068,744 shares of company stock worth $104,505,914. 11.64% of the stock is owned by insiders.

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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