Fullcircle Wealth LLC Has $2.62 Million Position in Alphabet Inc. $GOOGL

Fullcircle Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,411 shares of the information services provider’s stock after acquiring an additional 406 shares during the period. Alphabet accounts for 1.0% of Fullcircle Wealth LLC’s investment portfolio, making the stock its 20th biggest holding. Fullcircle Wealth LLC’s holdings in Alphabet were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Mystic Asset Management Inc. raised its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC increased its stake in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC raised its holdings in shares of Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares in the last quarter. Finally, Welch Group LLC lifted its stake in shares of Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after purchasing an additional 2,467 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. Bank of America increased their target price on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Evercore ISI boosted their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Robert W. Baird increased their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $304.10.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $276.41 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $257.24 and its two-hundred day moving average is $208.93. The company has a market cap of $3.34 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $292.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating 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 analysts’ expectations of $99.90 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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 given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 221,796 shares of company stock worth $53,983,001. 11.64% of the stock is currently owned by company 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.