Whalen Wealth Management Inc. Buys 1,347 Shares of Alphabet Inc. (NASDAQ:GOOG)

Whalen Wealth Management Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,919 shares of the information services provider’s stock after buying an additional 1,347 shares during the quarter. Alphabet accounts for 1.3% of Whalen Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position. Whalen Wealth Management Inc.’s holdings in Alphabet were worth $1,825,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital International Investors lifted its stake in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Capital World Investors raised its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors lifted its position in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Alphabet by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider’s stock worth $2,261,103,000 after acquiring an additional 282,121 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Oppenheimer increased their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This represents a 2.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated 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 directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $176.80 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.16 trillion, a PE ratio of 23.45, a PEG ratio of 1.22 and a beta of 1.04. The firm has a 50 day moving average of $167.56 and a 200-day moving average of $171.80. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.