Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Silicon Valley Capital Partners

Silicon Valley Capital Partners grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 192,655 shares of the information services provider's stock after acquiring an additional 7,376 shares during the period. Alphabet comprises approximately 4.2% of Silicon Valley Capital Partners' investment portfolio, making the stock its 8th biggest position. Silicon Valley Capital Partners' holdings in Alphabet were worth $31,952,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOOGL. New Hampshire Trust raised its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after acquiring an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP lifted its stake in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC boosted its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after buying an additional 190 shares during the last quarter. Finally, abrdn plc increased its stake in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after buying an additional 611,233 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 26th. Guggenheim raised their price objective on Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. KeyCorp lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Stock Performance

Shares of Alphabet stock opened at $172.49 on Friday. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $165.61 and a 200 day moving average of $170.18. 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, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company's stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by company insiders.

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.