Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $500.50 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,075,846 shares of the information services provider's stock after purchasing an additional 83,365 shares during the quarter. Alphabet accounts for about 4.4% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 5th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Alphabet were worth $500,502,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted 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 stake in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief accounting officer now owns 32,017 shares of the company's stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock worth $40,156,829 over the last quarter. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Piper Sandler reiterated an "overweight" rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. JMP Securities lifted 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. Finally, Mizuho raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $1.27 during midday trading on Tuesday, hitting $181.62. The stock had a trading volume of 25,122,860 shares, compared to its average volume of 27,119,752. 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 Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a 50 day moving average price of $163.88 and a two-hundred day moving average price of $169.91. The company has a market capitalization of $2.22 trillion, a PE ratio of 23.84, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

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.