Davis Rea LTD. Has $17 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Davis Rea LTD. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,519 shares of the information services provider's stock after acquiring an additional 19,828 shares during the period. Alphabet accounts for approximately 7.4% of Davis Rea LTD.'s portfolio, making the stock its 4th largest holding. Davis Rea LTD.'s holdings in Alphabet were worth $17,003,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GOOGL. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock worth $15,279,000 after purchasing an additional 41,880 shares during the period. Quent Capital LLC increased its holdings in shares of Alphabet by 3.6% in 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. Comprehensive Financial Consultants Institutional Inc. increased its holdings in shares of Alphabet by 9.0% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,356 shares of the information services provider's stock worth $2,318,000 after purchasing an additional 1,268 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Alphabet by 1.2% in the first quarter. Proficio Capital Partners LLC now owns 37,256 shares of the information services provider's stock worth $5,623,000 after purchasing an additional 431 shares during the period. Finally, CapWealth Advisors LLC increased its holdings in shares of Alphabet by 2,209.9% in the first quarter. CapWealth Advisors LLC now owns 39,246 shares of the information services provider's stock worth $5,923,000 after purchasing an additional 37,547 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company's stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 in the last three months. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.5 %

Shares of GOOGL traded down $2.74 during mid-day trading on Wednesday, reaching $178.88. The company had a trading volume of 23,170,800 shares, compared to its average volume of 27,102,947. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50-day moving average price of $164.37 and a 200 day moving average price of $169.98. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same period in the previous year, the firm posted $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. Pivotal Research increased 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. The Goldman Sachs Group reduced their target price on Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Rosenblatt Securities reissued a "neutral" rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. UBS Group increased their target price on Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Finally, KeyCorp increased their target price on Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Seven research 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 stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target 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.