AustralianSuper Pty Ltd boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,659,351 shares of the information services provider's stock after buying an additional 1,910,692 shares during the quarter. Alphabet makes up about 6.3% of AustralianSuper Pty Ltd's holdings, making the stock its 3rd largest position. AustralianSuper Pty Ltd owned about 0.06% of Alphabet worth $1,270,303,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter worth about $41,000. Quarry LP bought a new stake in Alphabet during the second quarter worth about $53,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on GOOGL shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. BMO Capital Markets reissued an "outperform" rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Seven 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.
Get Our Latest Stock Analysis on GOOGL
Insider Activity
In other news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 312,210 shares of the company's stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,752 shares of company stock worth $40,156,829 in the last three months. Company insiders own 11.55% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded down $2.74 during mid-day trading on Wednesday, reaching $178.88. 23,170,800 shares of the company traded hands, compared to its average volume of 27,102,947. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a market cap of $2.19 trillion, a PE ratio of 23.79, a PEG ratio of 1.29 and a beta of 1.03. The company's 50 day moving average price is $164.37 and its 200-day moving average price is $169.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company 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. 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 10.61%.
Alphabet Profile
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Free Report)
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.
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