Second Half Financial Partners LLC Makes New $681,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Second Half Financial Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, HoldingsChannel reports. The institutional investor purchased 4,109 shares of the information services provider’s stock, valued at approximately $681,000.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Bank of New York Mellon Corp lifted its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares in the last quarter. American Century Companies Inc. raised its holdings in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Alphabet by 9.1% during the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Alphabet by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock valued at $3,191,561,000 after purchasing an additional 1,102,269 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOGL opened at $171.34 on Wednesday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The business’s fifty day moving average price is $168.84 and its 200-day moving average price is $170.26. The stock has a market capitalization of $2.10 trillion, a PE ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,624 shares of company stock worth $27,803,730. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Bank of America boosted their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.