Carrera Capital Advisors Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Carrera Capital Advisors grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% in the third quarter, Holdings Channel reports. The fund owned 3,995 shares of the information services provider’s stock after acquiring an additional 201 shares during the quarter. Carrera Capital Advisors’ holdings in Alphabet were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of GOOGL opened at $169.12 on Wednesday. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $168.03 and a two-hundred day simple moving average of $170.35.

Alphabet (NASDAQ:GOOGL) last issued 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.