Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Forum Financial Management LP

Forum Financial Management LP increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 74,404 shares of the information services provider’s stock after acquiring an additional 1,597 shares during the period. Forum Financial Management LP’s holdings in Alphabet were worth $12,340,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Blue Square Asset Management LLC grew its stake in Alphabet by 4.5% during the 3rd quarter. Blue Square Asset Management LLC now owns 23,403 shares of the information services provider’s stock valued at $3,881,000 after acquiring an additional 1,001 shares in the last quarter. Lansing Street Advisors grew its stake in Alphabet by 1.4% during the 3rd quarter. Lansing Street Advisors now owns 8,388 shares of the information services provider’s stock valued at $1,391,000 after acquiring an additional 114 shares in the last quarter. TrueWealth Advisors LLC grew its stake in Alphabet by 16.0% during the 3rd quarter. TrueWealth Advisors LLC now owns 4,955 shares of the information services provider’s stock valued at $822,000 after acquiring an additional 685 shares in the last quarter. BSW Wealth Partners grew its stake in Alphabet by 11.3% during the 3rd quarter. BSW Wealth Partners now owns 22,388 shares of the information services provider’s stock valued at $3,713,000 after acquiring an additional 2,281 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Alphabet by 3.2% during the 3rd quarter. Angeles Wealth Management LLC now owns 28,795 shares of the information services provider’s stock valued at $4,776,000 after acquiring an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of GOOGL stock opened at $172.49 on Friday. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a 50 day moving average of $165.61 and a 200-day moving average of $170.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 period in the previous year, the business posted $1.55 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. KeyCorp lifted their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,471,141. Company insiders own 11.55% of the company’s stock.

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.