Hutchinson Financial Advisors INC Buys Shares of 15,565 Alphabet Inc. $GOOGL

Hutchinson Financial Advisors INC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,565 shares of the information services provider’s stock, valued at approximately $2,743,000. Alphabet comprises 1.1% of Hutchinson Financial Advisors INC’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first 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. Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter worth approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake 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 purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays reaffirmed an “overweight” rating and issued a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Moffett Nathanson increased their price objective on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.10.

Alphabet Stock Performance

GOOGL opened at $286.71 on Thursday. The firm has a market capitalization of $3.46 trillion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock’s 50 day moving average price is $255.49 and its two-hundred day moving average price is $207.29. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $292.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $99.90 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

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.