Goldstone Financial Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,965 shares of the information services provider's stock, valued at approximately $1,321,000.
Other institutional investors and hedge funds also recently 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 valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter valued at about $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at 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 valued at $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on GOOGL. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Wedbush reissued an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Citigroup increased their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.90.
Read Our Latest Research Report on GOOGL
Insider Buying and Selling
In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company's stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last three months. 11.55% of the stock is currently owned by company insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded down $2.74 during midday trading on Wednesday, reaching $178.88. The company's stock had a trading volume of 23,170,800 shares, compared to its average volume of 27,102,947. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a market capitalization of $2.19 trillion, a P/E ratio of 23.79, a P/E/G ratio of 1.29 and a beta of 1.03. 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 business's fifty day simple moving average is $164.37 and its 200-day simple moving average is $169.98.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results 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 return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 earnings per share. As a group, equities research 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. Investors of record on Monday, December 9th will be given 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 10.61%.
Alphabet Company 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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