AlphaCore Capital LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,698 shares of the information services provider’s stock after acquiring an additional 977 shares during the period. Alphabet comprises 0.8% of AlphaCore Capital LLC’s investment portfolio, making the stock its 21st biggest holding. AlphaCore Capital LLC’s holdings in Alphabet were worth $3,628,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after purchasing an additional 15,848 shares during the period. Quent Capital LLC increased its holdings in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after acquiring an additional 1,798 shares during the period. Advisors Asset Management Inc. raised its position in Alphabet by 27.1% in the 1st quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock valued at $1,621,000 after purchasing an additional 2,269 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Alphabet by 11.1% during the first quarter. Kestra Advisory Services LLC now owns 459,466 shares of the information services provider’s stock worth $69,958,000 after buying an additional 45,882 shares during the period. Finally, BOKF NA grew its holdings in shares of Alphabet by 5.8% during the first quarter. BOKF NA now owns 320,576 shares of the information services provider’s stock worth $50,170,000 after buying an additional 17,627 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.
Alphabet Stock Performance
Shares of NASDAQ GOOG opened at $169.49 on Friday. The company has a market cap of $2.07 trillion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. 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 12 month low of $129.40 and a 12 month high of $193.31. The company has a 50-day simple moving average of $168.93 and a 200-day simple moving average of $171.90.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.
Insider Buying and Selling
In other news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value 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 represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is currently owned by company insiders.
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.
See Also
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.