Smallwood Wealth Investment Management LLC Buys 3,293 Shares of Alphabet Inc. $GOOGL

Key Points

• Smallwood Wealth Investment Management increased its Alphabet stake by 441.4% in the third quarter, adding 3,293 shares to reach 4,039 shares valued at about $1.39 million.
• Alphabet reported quarterly EPS of $2.12, below the $3.02 consensus estimate; revenue of $127.58 billion also narrowly missed forecasts.
• Analysts maintain a broadly positive view: the stock has a consensus Buy rating and an average price target of $412.51.

Smallwood Wealth Investment Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 441.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,039 shares of the information services provider's stock after purchasing an additional 3,293 shares during the quarter. Smallwood Wealth Investment Management LLC's holdings in Alphabet were worth $1,390,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Titleist Asset Management LLC boosted its position in shares of Alphabet by 6.4% during the third quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider's stock worth $11,909,000 after buying an additional 2,096 shares during the period. Elefante Mark B increased its stake in shares of Alphabet by 4.5% during the second quarter. Elefante Mark B now owns 43,733 shares of the information services provider's stock worth $15,629,000 after buying an additional 1,897 shares during the period. Nwam LLC raised its holdings in Alphabet by 19.6% in the first quarter. Nwam LLC now owns 49,128 shares of the information services provider's stock valued at $14,127,000 after acquiring an additional 8,055 shares in the last quarter. WCM Investment Management LLC raised its holdings in Alphabet by 287.4% in the first quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider's stock valued at $1,063,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its holdings in Alphabet by 51.4% in the second quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider's stock valued at $1,701,000 after acquiring an additional 1,616 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Top Alphabet Stories

Here are a few of the latest stories about GOOGL:

• Positive Sentiment: Nvidia CEO Jensen Huang’s reported departure has put a spotlight on alternatives to Nvidia. Alphabet’s expanding TPU business could help it compete for AI workloads and gain market share, while its Google Cloud infrastructure also uses AMD processors. Why Alphabet Stock Was Moving Higher Today
• Positive Sentiment: An economist cited Alphabet’s search distribution, advertising business and ability to generate cash as reasons it may be well-positioned despite the AI sell-off. The view supports the case that established customer reach can help the company monetize AI. Is It Too Late to Buy the Dip? 3 Corners of the Market Still Offering Real Value
• Neutral Sentiment: Alphabet is reportedly planning its first Hong Kong- and Singapore-dollar bond sale. The deal could diversify its funding, though investors may also watch how borrowing fits with already elevated AI infrastructure spending. Alphabet Eyes Bond Sales

Insider Buying and Selling

In related news, Director Frances Arnold sold 83 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 247 shares of company stock valued at $79,238. 11.61% of the stock is owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $298.70 on Friday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 15.59, a P/E/G ratio of 0.88 and a beta of 1.23. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61. The firm's 50-day simple moving average is $329.12 and its 200 day simple moving average is $338.21. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The company had revenue of $127.58 billion for the quarter, compared to analyst estimates of $127.96 billion. On average, equities research analysts predict that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's payout ratio is 4.59%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Yorkville Ives began coverage on shares of Alphabet in a research report on Monday, October 5th. They set an "outperform" rating and a $400.00 price objective for the company. DA Davidson cut their target price on shares of Alphabet from $350.00 to $300.00 and set a "neutral" rating on the stock in a report on Thursday, October 29th. Rosenblatt Securities lowered their price objective on shares of Alphabet from $410.00 to $380.00 and set a "buy" rating on the stock in a research report on Thursday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $450.00 target price on shares of Alphabet in a report on Thursday, October 29th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $385.00 target price on shares of Alphabet in a research note on Thursday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Buy" and a consensus price target of $412.51.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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