Symphony Financial Ltd. Co. Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Symphony Financial Ltd. Co. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,188 shares of the information services provider’s stock after buying an additional 3,187 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Alphabet were worth $5,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter worth about $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOGL. The Goldman Sachs Group cut their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $171.29 on Friday. Alphabet Inc. has a 52 week low of $126.93 and a 52 week high of $191.75. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03. The firm has a fifty day simple moving average of $162.43 and a two-hundred day simple moving average of $169.01. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the company earned $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,244 shares of company stock valued at $37,776,954. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.