Greystone Financial Group LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Greystone Financial Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,683 shares of the information services provider’s stock after purchasing an additional 1,278 shares during the quarter. Greystone Financial Group LLC’s holdings in Alphabet were worth $2,435,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised 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 buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. lifted 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 valued at $44,000 after acquiring an additional 109 shares during the period. Finally, Quarry LP purchased a new position in Alphabet in the second quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.2 %

NASDAQ GOOGL opened at $169.24 on Tuesday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company’s 50-day moving average price is $162.49 and its 200-day moving average price is $169.20. The stock has a market cap 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 posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current year.

Alphabet Dividend Announcement

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. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the 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 sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,086,723 over the last three months. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Bank of America upped their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Finally, Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.51.

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.