Janney Montgomery Scott LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,839,604 shares of the information services provider's stock after acquiring an additional 33,405 shares during the quarter. Alphabet comprises about 0.9% of Janney Montgomery Scott LLC's holdings, making the stock its 15th largest position. Janney Montgomery Scott LLC's holdings in Alphabet were worth $305,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock valued at $15,279,000 after purchasing an additional 41,880 shares in the last quarter. Quent Capital LLC increased its position 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 acquiring an additional 1,072 shares in the last quarter. Empirical Finance LLC increased its position in shares of Alphabet by 3.4% in the first quarter. Empirical Finance LLC now owns 214,424 shares of the information services provider's stock worth $32,363,000 after acquiring an additional 7,034 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,136 shares of the information services provider's stock valued at $62,656,000 after acquiring an additional 38,788 shares in the last quarter. Finally, Sciencast Management LP increased its holdings in Alphabet by 26.5% in the 1st quarter. Sciencast Management LP now owns 12,088 shares of the information services provider's stock valued at $1,824,000 after purchasing an additional 2,536 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Price Performance
GOOGL stock traded down $3.09 on Friday, hitting $172.49. 32,504,649 shares of the company's stock traded hands, compared to its average volume of 27,145,184. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $165.61 and a 200-day moving average of $170.13.
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 (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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 EPS 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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on GOOGL shares. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. 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. JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Bank of America increased their price target on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $205.90.
Read Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction that occurred 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 approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 in the last three months. 11.55% of the stock is currently owned by company insiders.
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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