Pathway Financial Advisers LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21,228.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 716,199 shares of the information services provider's stock after purchasing an additional 712,841 shares during the quarter. Pathway Financial Advisers LLC's holdings in Alphabet were worth $118,782,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet by 70.6% in 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. Fortis Group Advisors LLC boosted its stake in Alphabet by 552.0% in the 1st quarter. Fortis Group Advisors LLC now owns 39,276 shares of the information services provider's stock worth $5,928,000 after purchasing an additional 33,252 shares in the last quarter. JLB & Associates Inc. grew its position in Alphabet by 7.2% during the 1st quarter. JLB & Associates Inc. now owns 15,801 shares of the information services provider's stock valued at $2,406,000 after purchasing an additional 1,066 shares during the last quarter. Van ECK Associates Corp increased its stake in Alphabet by 13.5% during the 1st quarter. Van ECK Associates Corp now owns 3,537,451 shares of the information services provider's stock valued at $533,908,000 after purchasing an additional 419,480 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. raised its holdings in Alphabet by 1.1% in the first quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider's stock worth $9,436,000 after buying an additional 655 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Scotiabank upgraded shares of Alphabet to a "strong-buy" rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. Finally, Loop Capital lifted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $205.90.
Get Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Alphabet stock traded down $2.40 during mid-day trading on Friday, hitting $178.35. The stock had a trading volume of 21,982,048 shares, compared to its average volume of 27,174,885. Alphabet Inc. has a one year low of $127.90 and a one 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 firm has a market capitalization of $2.20 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.03. The firm's 50 day moving average is $163.54 and its 200 day moving average is $169.59.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.
Insider Activity
In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company's stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 242,552 shares of company stock worth $40,287,253 over the last quarter. Insiders own 11.55% of the company's stock.
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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