Grassi Investment Management Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Grassi Investment Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,545 shares of the information services provider’s stock after buying an additional 1,555 shares during the quarter. Grassi Investment Management’s holdings in Alphabet were worth $9,212,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in Alphabet during the 2nd quarter valued at about $53,000. Finally, CarsonAllaria Wealth Management Ltd. raised 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 buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,052 shares of company stock worth $38,086,723. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on GOOGL shares. Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim upped their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wolfe Research started coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Trading Down 1.2 %

Shares of NASDAQ:GOOGL opened at $169.24 on Tuesday. The business has a 50 day moving average of $162.49 and a two-hundred day moving average of $169.20. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a market capitalization of $2.08 trillion, a PE ratio of 22.45, a PEG ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.91 EPS for the current year.

Alphabet Dividend Announcement

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

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.