Alphabet Inc. (NASDAQ:GOOG) is Wahed Invest LLC’s 5th Largest Position

Wahed Invest LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 119,054 shares of the information services provider’s stock after acquiring an additional 9,318 shares during the period. Alphabet makes up about 3.5% of Wahed Invest LLC’s portfolio, making the stock its 5th biggest holding. Wahed Invest LLC’s holdings in Alphabet were worth $19,905,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter valued at $25,000. Texas Capital Bank Wealth Management Services Inc boosted its stake in Alphabet by 24.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,878 shares of the information services provider’s stock valued at $1,484,000 after acquiring an additional 1,751 shares during the last quarter. Soros Fund Management LLC acquired a new position in Alphabet during the 3rd quarter worth $133,000. Stansberry Asset Management LLC raised its stake in shares of Alphabet by 8.9% in the 3rd quarter. Stansberry Asset Management LLC now owns 1,557 shares of the information services provider’s stock valued at $260,000 after purchasing an additional 127 shares in the last quarter. Finally, Stevens Capital Management LP lifted its position in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 8.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 163,624 shares of company stock valued at $27,803,730. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Down 1.0 %

Alphabet stock opened at $174.31 on Friday. The stock has a market cap of $2.13 trillion, a P/E ratio of 23.12, a P/E/G ratio of 1.21 and a beta of 1.02. Alphabet Inc. has a 12 month low of $131.06 and a 12 month high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $170.84 and its 200-day simple moving average is $171.82.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is currently 10.61%.

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.