Fulcrum Equity Management Acquires 867 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fulcrum Equity Management raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 42.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,924 shares of the information services provider’s stock after purchasing an additional 867 shares during the period. Fulcrum Equity Management’s holdings in Alphabet were worth $485,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOGL. Lantz Financial LLC raised its stake in Alphabet by 10.8% in the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $218,000. Archford Capital Strategies LLC boosted its stake in shares of Alphabet by 4.5% in the second quarter. Archford Capital Strategies LLC now owns 32,844 shares of the information services provider’s stock valued at $5,983,000 after buying an additional 1,417 shares during the period. Welch Group LLC boosted its stake in shares of Alphabet by 0.7% in the second quarter. Welch Group LLC now owns 53,369 shares of the information services provider’s stock valued at $9,721,000 after buying an additional 353 shares during the period. Finally, Brown Lisle Cummings Inc. grew its position in Alphabet by 1.6% during the second quarter. Brown Lisle Cummings Inc. now owns 47,515 shares of the information services provider’s stock worth $8,655,000 after buying an additional 740 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,957 shares of company stock worth $31,358,687 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $188.40 on Thursday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The stock’s 50-day simple moving average is $173.46 and its 200 day simple moving average is $171.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America raised their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $206.69.

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.