Great Lakes Retirement Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Great Lakes Retirement Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 122,364 shares of the information services provider’s stock after purchasing an additional 2,342 shares during the quarter. Alphabet makes up 2.6% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 6th largest holding. Great Lakes Retirement Inc.’s holdings in Alphabet were worth $20,294,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. International Assets Investment Management LLC lifted its stake 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 buying an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC raised its holdings in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Capital Research Global Investors raised its holdings 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 period. Wulff Hansen & CO. lifted its position in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. grew its position in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. TD Securities increased their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Stock Up 0.1 %

Shares of NASDAQ:GOOGL opened at $171.29 on Monday. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 12 month low of $126.93 and a 12 month high of $191.75. The company’s 50-day moving average price is $162.43 and its two-hundred day moving average price is $169.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. 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 analysts’ expectations of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’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 approximately $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock worth $37,776,954 over the last 90 days. Insiders own 11.55% of the company’s stock.

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.