Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Solidarity Wealth LLC

Solidarity Wealth LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,497 shares of the information services provider's stock after buying an additional 4,594 shares during the quarter. Alphabet makes up 4.5% of Solidarity Wealth LLC's portfolio, making the stock its 6th largest position. Solidarity Wealth LLC's holdings in Alphabet were worth $16,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its stake in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC raised its stake in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after acquiring an additional 190 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company's stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 29,324 shares of the company's stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,752 shares of company stock worth $40,156,829. Corporate insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Bank of America boosted their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Loop Capital upped their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Alphabet Stock Performance

Shares of GOOGL traded down $2.74 during mid-day trading on Wednesday, reaching $178.88. 23,170,800 shares of the company's stock were exchanged, compared to its average volume of 27,102,947. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.19 trillion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. The business's fifty day simple moving average is $164.37 and its 200-day simple moving average is $169.98. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet's payout ratio 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.