Pallas Capital Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,833 shares of the information services provider's stock after acquiring an additional 2,825 shares during the quarter. Alphabet comprises about 1.2% of Pallas Capital Advisors LLC's portfolio, making the stock its 10th largest position. Pallas Capital Advisors LLC's holdings in Alphabet were worth $28,774,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter worth about $41,000. Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of 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 acquiring an additional 109 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Scotiabank upgraded Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price objective on the stock. Bank of America boosted their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $205.90.
Check Out Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,552 shares of company stock valued at $40,287,253. Company insiders own 11.55% of the company's stock.
Alphabet Stock Down 1.3 %
Shares of NASDAQ:GOOGL traded down $2.40 during trading on Friday, reaching $178.35. 22,006,182 shares of the stock were exchanged, compared to its average volume of 25,879,976. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The stock has a fifty day moving average of $163.54 and a two-hundred day moving average of $169.67.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Announces Dividend
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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's payout ratio is 10.61%.
Alphabet Profile
(
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.
Featured Stories
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
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
