Quest Partners LLC Purchases 11,855 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Quest Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 129.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,999 shares of the information services provider’s stock after acquiring an additional 11,855 shares during the period. Alphabet makes up approximately 0.3% of Quest Partners LLC’s holdings, making the stock its 28th biggest position. Quest Partners LLC’s holdings in Alphabet were worth $3,483,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. New Hampshire Trust increased its holdings in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Trinity Financial Advisors LLC boosted its holdings in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. Schear Investment Advisers LLC raised its holdings in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 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 worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. increased 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 valued at $3,567,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % 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 this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last 90 days. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein increased their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $168.95 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market capitalization of $2.07 trillion, a PE ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. The firm’s 50-day moving average price is $168.47 and its 200 day moving average price is $170.31.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet 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.