Round Rock Advisors LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Round Rock Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,324 shares of the information services provider’s stock after buying an additional 649 shares during the period. Round Rock Advisors LLC’s holdings in Alphabet were worth $1,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOGL. Legacy Capital Wealth Partners LLC grew its holdings in Alphabet by 26.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider’s stock valued at $1,377,000 after buying an additional 1,749 shares in the last quarter. Guerra Pan Advisors LLC raised its stake in Alphabet by 4.0% during the third quarter. Guerra Pan Advisors LLC now owns 28,262 shares of the information services provider’s stock worth $4,687,000 after purchasing an additional 1,084 shares during the period. Eagle Bluffs Wealth Management LLC boosted its holdings in Alphabet by 1.4% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 19,844 shares of the information services provider’s stock valued at $3,291,000 after purchasing an additional 274 shares during the last quarter. Costello Asset Management INC grew its stake in shares of Alphabet by 0.9% in the 3rd quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock valued at $5,081,000 after buying an additional 267 shares during the period. Finally, Rocky Mountain Advisers LLC increased its holdings in shares of Alphabet by 33.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock worth $532,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Monday. The firm has a fifty day moving average price of $167.64 and a two-hundred day moving average price of $170.36. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released 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 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 quarter in the prior year, the firm earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend 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.