Mediolanum International Funds Ltd increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,050,909 shares of the information services provider's stock after acquiring an additional 9,223 shares during the period. Alphabet makes up about 2.2% of Mediolanum International Funds Ltd's holdings, making the stock its 5th largest holding. Mediolanum International Funds Ltd's holdings in Alphabet were worth $172,011,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL raised its position in Alphabet by 3.8% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 4,091 shares of the information services provider's stock worth $679,000 after buying an additional 149 shares during the last quarter. Hudock Inc. raised its position in shares of Alphabet by 3.5% in the third quarter. Hudock Inc. now owns 4,774 shares of the information services provider's stock valued at $792,000 after buying an additional 163 shares during the last quarter. Court Place Advisors LLC raised its position in shares of Alphabet by 0.5% in the third quarter. Court Place Advisors LLC now owns 19,587 shares of the information services provider's stock valued at $3,248,000 after buying an additional 91 shares during the last quarter. Tandem Capital Management Corp ADV raised its position in shares of Alphabet by 1.0% in the third quarter. Tandem Capital Management Corp ADV now owns 42,080 shares of the information services provider's stock valued at $6,351,000 after buying an additional 403 shares during the last quarter. Finally, HWG Holdings LP increased its position in Alphabet by 20.8% during the third quarter. HWG Holdings LP now owns 62,464 shares of the information services provider's stock worth $10,360,000 after purchasing an additional 10,765 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock traded up $4.24 during trading on Thursday, hitting $180.75. The company's stock had a trading volume of 25,317,026 shares, compared to its average volume of 27,198,012. The company has a market cap of $2.23 trillion, a PE ratio of 23.97, a P/E/G ratio of 1.20 and a beta of 1.03. The business has a fifty day moving average of $162.86 and a 200-day moving average of $169.36. Alphabet Inc. has a 52 week low of $127.90 and a 52 week 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.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John L. Hennessy sold 800 shares of the business's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 242,552 shares of company stock valued at $40,287,253 in the last 90 days. Insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on GOOGL. Royal Bank of Canada lifted 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 reissued a "neutral" rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America raised their price target on shares of Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.
Check Out Our Latest Stock Report on GOOGL
About Alphabet
(
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.
Read More
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
