Malaga Cove Capital LLC Purchases 3,338 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Malaga Cove Capital LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,816 shares of the information services provider's stock after acquiring an additional 3,338 shares during the quarter. Alphabet accounts for 1.3% of Malaga Cove Capital LLC's portfolio, making the stock its 18th largest position. Malaga Cove Capital LLC's holdings in Alphabet were worth $3,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Alphabet by 70.6% during 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 acquiring an additional 41,880 shares in the last quarter. Quent Capital LLC grew its position in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock valued at $4,705,000 after acquiring an additional 1,072 shares during the period. Empowered Funds LLC grew its holdings in Alphabet by 12.3% during the first quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider's stock worth $28,351,000 after purchasing an additional 20,572 shares during the period. William Blair Investment Management LLC raised its stake in Alphabet by 9.9% in the first quarter. William Blair Investment Management LLC now owns 7,693,292 shares of the information services provider's stock valued at $1,161,149,000 after buying an additional 695,581 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in shares of Alphabet by 1.8% in the first quarter. Baltimore Washington Financial Advisors Inc. now owns 44,965 shares of the information services provider's stock valued at $6,787,000 after buying an additional 791 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,835 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated 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 sale, the insider now owns 39,334 shares of the company's stock, 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 184,295 shares of company stock valued at $30,698,791 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup raised their price objective 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. Wedbush restated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Evercore ISI increased their price objective on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Trading Down 1.9 %

Shares of NASDAQ:GOOGL traded down $3.33 during trading on Wednesday, reaching $174.79. The stock had a trading volume of 8,021,273 shares, compared to its average volume of 27,012,984. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm's fifty day moving average is $166.74 and its 200 day moving average is $170.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 firm earned $1.55 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 of this dividend is Monday, December 9th. Alphabet's dividend 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.