Alphabet Inc. (NASDAQ:GOOGL) is McAlister Sweet & Associates Inc.’s 8th Largest Position

McAlister Sweet & Associates Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,733 shares of the information services provider’s stock after buying an additional 425 shares during the quarter. Alphabet accounts for 3.9% of McAlister Sweet & Associates Inc.’s investment portfolio, making the stock its 8th largest position. McAlister Sweet & Associates Inc.’s holdings in Alphabet were worth $5,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC lifted its holdings in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. abrdn plc increased its holdings in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.82.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock worth $27,996,356 in the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Trading Down 0.7 %

Shares of Alphabet stock traded down $1.38 during trading hours on Tuesday, reaching $195.49. 26,429,953 shares of the company’s stock were exchanged, compared to its average volume of 23,676,129. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The company has a fifty day moving average of $180.84 and a 200-day moving average of $172.60. 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 firm has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.