QRG Capital Management Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

QRG Capital Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,015,455 shares of the information services provider's stock after purchasing an additional 35,901 shares during the quarter. Alphabet makes up 1.8% of QRG Capital Management Inc.'s investment portfolio, making the stock its 6th largest position. QRG Capital Management Inc.'s holdings in Alphabet were worth $168,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC grew its position in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock worth $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Capital Research Global Investors increased its stake in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Finally, Wulff Hansen & CO. grew its holdings in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction 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 the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 32,017 shares of the company's stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.8 %

Shares of GOOGL stock traded down $3.09 during mid-day trading on Friday, reaching $172.49. 32,504,649 shares of the company's stock traded hands, compared to its average volume of 27,756,214. The company's 50-day moving average price is $165.61 and its 200-day moving average price is $170.18. The company has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, equities analysts expect 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. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. Tigress Financial lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 26th. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

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.