10,510 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Advisor Resource Council

Advisor Resource Council purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,510 shares of the information services provider's stock, valued at approximately $1,743,000. Alphabet makes up about 0.8% of Advisor Resource Council's portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new position in Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP acquired a new position in Alphabet during the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $55,000. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,295 shares of company stock worth $30,698,791. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.9 %

NASDAQ GOOGL traded down $3.33 on Wednesday, hitting $174.79. 8,021,273 shares of the stock were exchanged, compared to its average volume of 27,012,984. 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 fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a market cap of $2.14 trillion, a PE ratio of 23.11, a PEG ratio of 1.23 and a beta of 1.03. The company has a 50-day moving average price of $166.74 and a 200-day moving average price of $170.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 EPS. Sell-side analysts anticipate 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. Shareholders 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $205.90.

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.