Quest Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4,715.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,090 shares of the information services provider's stock after purchasing an additional 7,922 shares during the period. Quest Partners LLC's holdings in Alphabet were worth $1,353,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Phillips Financial Management LLC lifted its position in shares of Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider's stock valued at $644,000 after buying an additional 61 shares in the last quarter. Aljian Capital Management LLC raised its stake in Alphabet by 5.7% in the 3rd quarter. Aljian Capital Management LLC now owns 90,190 shares of the information services provider's stock valued at $15,079,000 after purchasing an additional 4,847 shares during the last quarter. Marathon Trading Investment Management LLC raised its holdings in Alphabet by 31.1% in the 3rd quarter. Marathon Trading Investment Management LLC now owns 2,316 shares of the information services provider's stock valued at $387,000 after acquiring an additional 549 shares during the last quarter. Westfuller Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $485,000. Finally, Thrivent Financial for Lutherans lifted its position in Alphabet by 2.2% during the third quarter. Thrivent Financial for Lutherans now owns 5,167,385 shares of the information services provider's stock worth $863,951,000 after buying an additional 113,497 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company's stock, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock worth $30,698,791 in the last quarter. Corporate insiders own 12.99% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They issued a "sector outperform" rating and a $212.00 price objective on the stock. DA Davidson upgraded shares of Alphabet to a "hold" rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $200.56.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Trading Down 1.3 %
NASDAQ:GOOG traded down $2.25 during mid-day trading on Wednesday, hitting $177.33. The company had a trading volume of 14,912,745 shares, compared to its average volume of 19,543,430. The firm has a market cap of $2.17 trillion, a P/E ratio of 23.45, a P/E/G ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The business's fifty day moving average is $168.15 and its two-hundred day moving average is $171.87. 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 (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the business posted $1.55 earnings per share. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.
Alphabet Announces Dividend
The firm 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 $0.20 dividend. 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 is currently 10.61%.
Alphabet 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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