Seven Post Investment Office LP Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Seven Post Investment Office LP lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 460.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,809 shares of the information services provider's stock after buying an additional 261,877 shares during the period. Alphabet makes up approximately 8.0% of Seven Post Investment Office LP's investment portfolio, making the stock its 4th biggest position. Seven Post Investment Office LP's holdings in Alphabet were worth $52,874,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dudley Capital Management LLC grew its stake in Alphabet by 1.0% during the third quarter. Dudley Capital Management LLC now owns 32,927 shares of the information services provider's stock worth $5,461,000 after buying an additional 313 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $1,715,000. Keynote Financial Services LLC boosted its position in shares of Alphabet by 4.1% during the 3rd quarter. Keynote Financial Services LLC now owns 14,860 shares of the information services provider's stock worth $2,465,000 after acquiring an additional 585 shares in the last quarter. Consolidated Planning Corp boosted its position in shares of Alphabet by 9.6% during the 3rd quarter. Consolidated Planning Corp now owns 29,617 shares of the information services provider's stock worth $4,912,000 after acquiring an additional 2,582 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC increased its stake in Alphabet by 3.5% in the third quarter. Global Strategic Investment Solutions LLC now owns 9,100 shares of the information services provider's stock valued at $1,509,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,295 shares of company stock worth $30,698,791 over the last three months. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Down 1.2 %

GOOGL stock opened at $175.98 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock's 50 day simple moving average is $167.23 and its 200 day simple moving average is $170.40. The company has a market cap of $2.15 trillion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Piper Sandler reissued an "overweight" rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. KeyCorp lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an "overweight" 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.