LRI Investments LLC Purchases 38,600 Shares of Alphabet Inc. (NASDAQ:GOOGL)

LRI Investments LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 263.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,227 shares of the information services provider's stock after purchasing an additional 38,600 shares during the quarter. Alphabet accounts for 0.8% of LRI Investments LLC's holdings, making the stock its 20th largest position. LRI Investments LLC's holdings in Alphabet were worth $8,828,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd boosted its position in shares of Alphabet by 5.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 10,535 shares of the information services provider's stock worth $1,747,000 after acquiring an additional 585 shares in the last quarter. PYA Waltman Capital LLC boosted its position in shares of Alphabet by 1.9% during the 3rd quarter. PYA Waltman Capital LLC now owns 69,106 shares of the information services provider's stock worth $11,461,000 after acquiring an additional 1,298 shares in the last quarter. Peloton Wealth Strategists boosted its position in shares of Alphabet by 4.4% during the 3rd quarter. Peloton Wealth Strategists now owns 47,747 shares of the information services provider's stock worth $7,919,000 after acquiring an additional 1,994 shares in the last quarter. Geller Advisors LLC boosted its position in shares of Alphabet by 1.5% during the 3rd quarter. Geller Advisors LLC now owns 34,370 shares of the information services provider's stock worth $5,700,000 after acquiring an additional 507 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC boosted its position in shares of Alphabet by 1.2% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 24,151 shares of the information services provider's stock worth $4,005,000 after acquiring an additional 290 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,457 shares of company stock worth $34,972,862 in the last three months. Corporate insiders own 11.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Seven investment 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's stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.08.

Alphabet Trading Down 0.6 %

Shares of NASDAQ GOOGL traded down $1.24 during mid-day trading on Tuesday, reaching $195.42. The company had a trading volume of 43,485,207 shares, compared to its average volume of 27,531,410. The business's 50-day moving average is $172.93 and its 200-day moving average is $170.97. 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 market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's payout ratio is presently 10.61%.

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.