Stevens Capital Partners boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 34.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544 shares of the information services provider’s stock after acquiring an additional 398 shares during the quarter. Stevens Capital Partners’ holdings in Alphabet were worth $256,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. MorganRosel Wealth Management LLC increased its holdings in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC grew its position in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. First PREMIER Bank lifted its position in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC boosted its stake in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently issued reports on GOOGL shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.90.
Alphabet Stock Down 1.8 %
Shares of NASDAQ GOOGL opened at $175.58 on Friday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The stock’s fifty day simple moving average is $164.82 and its two-hundred day simple moving average is $170.04. The stock has a market capitalization of $2.15 trillion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. 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 (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Announces Dividend
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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction 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 $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 in the last 90 days. 11.55% of the stock is owned by corporate insiders.
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.
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