Semmax Financial Advisors Inc. Acquires 2,650 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Semmax Financial Advisors Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,325 shares of the information services provider’s stock after acquiring an additional 2,650 shares during the period. Alphabet comprises approximately 1.4% of Semmax Financial Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Semmax Financial Advisors Inc.’s holdings in Alphabet were worth $5,144,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOGL. Kitching Partners LLC bought a new position in shares of Alphabet in the third quarter worth $308,000. Encompass More Asset Management bought a new position in shares of Alphabet during the third quarter valued at about $1,028,000. Darsana Capital Partners LP purchased a new stake in shares of Alphabet during the third quarter worth about $331,700,000. Ironwood Investment Counsel LLC boosted its holdings in shares of Alphabet by 2.3% during the third quarter. Ironwood Investment Counsel LLC now owns 75,323 shares of the information services provider’s stock worth $12,492,000 after purchasing an additional 1,689 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in Alphabet in the third quarter worth about $13,948,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.08.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,123 shares of company stock worth $34,121,676. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $191.96 on Friday. The company’s 50-day moving average price is $170.66 and its 200-day moving average price is $170.46. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. 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 company has a market cap of $2.35 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is 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.