Goelzer Investment Management Inc. Has $1.08 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Goelzer Investment Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,528 shares of the information services provider’s stock after purchasing an additional 110 shares during the period. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $1,083,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at approximately $30,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOGL shares. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Royal Bank of Canada increased their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.95.

Alphabet Stock Performance

Shares of Alphabet stock opened at $163.24 on Monday. The firm has a market cap of $2.02 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business’s fifty day simple moving average is $161.37 and its 200-day simple moving average is $167.86. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is 12.27%.

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.