Quantinno Capital Management LP Acquires 118,857 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Quantinno Capital Management LP raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 639,077 shares of the information services provider's stock after purchasing an additional 118,857 shares during the quarter. Alphabet accounts for 1.4% of Quantinno Capital Management LP's portfolio, making the stock its 7th largest position. Quantinno Capital Management LP's holdings in Alphabet were worth $105,991,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Lantz Financial LLC lifted its holdings in shares of Alphabet by 10.8% in the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider's stock worth $842,000 after purchasing an additional 452 shares during the last quarter. Strong Tower Advisory Services lifted its holdings in shares of Alphabet by 8.4% in the 2nd quarter. Strong Tower Advisory Services now owns 45,695 shares of the information services provider's stock worth $8,323,000 after purchasing an additional 3,523 shares during the last quarter. PCG Wealth Advisors LLC lifted its holdings in shares of Alphabet by 3.7% in the 2nd quarter. PCG Wealth Advisors LLC now owns 3,575 shares of the information services provider's stock worth $651,000 after purchasing an additional 129 shares during the last quarter. Alpha Cubed Investments LLC lifted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Alpha Cubed Investments LLC now owns 544,086 shares of the information services provider's stock worth $99,105,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Cooper Financial Group lifted its holdings in shares of Alphabet by 8.6% in the 2nd quarter. Cooper Financial Group now owns 57,673 shares of the information services provider's stock worth $10,505,000 after purchasing an additional 4,554 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded down $2.14 during trading on Friday, hitting $189.82. The company had a trading volume of 25,143,495 shares, compared to its average volume of 27,397,740. The stock's 50-day moving average price is $171.63 and its 200 day moving average price is $170.67. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. 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 Inc. has a one year low of $129.68 and a one year high of $195.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate 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 business earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird reissued an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. The Goldman Sachs Group reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price target on the stock. Sanford C. Bernstein lifted their target price on Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Seven investment 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $206.08.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares of the company's stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock worth $34,413,006 over the last three months. Company insiders own 11.55% of the company's stock.

Alphabet Company 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.