Princeton Global Asset Management LLC Purchases 2,953 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Princeton Global Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 62,452 shares of the information services provider's stock after acquiring an additional 2,953 shares during the period. Alphabet comprises 2.0% of Princeton Global Asset Management LLC's portfolio, making the stock its 12th biggest position. Princeton Global Asset Management LLC's holdings in Alphabet were worth $10,358,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock valued at $15,279,000 after purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC boosted its position in Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock worth $4,705,000 after purchasing an additional 1,072 shares during the period. Empirical Finance LLC increased its holdings in shares of Alphabet by 3.4% in the first quarter. Empirical Finance LLC now owns 214,424 shares of the information services provider's stock valued at $32,363,000 after purchasing an additional 7,034 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Alphabet by 10.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,136 shares of the information services provider's stock valued at $62,656,000 after purchasing an additional 38,788 shares during the period. Finally, Sciencast Management LP raised its holdings in Alphabet by 26.5% in the 1st quarter. Sciencast Management LP now owns 12,088 shares of the information services provider's stock valued at $1,824,000 after acquiring an additional 2,536 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents 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 available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company's stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. Insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOOGL shares. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Scotiabank raised Alphabet to a "strong-buy" rating in a report on Friday, October 11th. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a report 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.

Alphabet Price Performance

Shares of GOOGL stock traded down $3.09 during trading hours on Friday, reaching $172.49. The stock had a trading volume of 32,504,649 shares, compared to its average volume of 27,145,184. The stock's fifty day simple moving average is $165.61 and its 200 day simple moving average is $170.13. The firm has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. 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 released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

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.