Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by abrdn plc

abrdn plc increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,305,717 shares of the information services provider’s stock after buying an additional 611,233 shares during the period. Alphabet accounts for 1.9% of abrdn plc’s holdings, making the stock its 5th largest position. abrdn plc owned 0.05% of Alphabet worth $1,037,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Alphabet in the third quarter valued at approximately $612,000. SFE Investment Counsel increased its stake in Alphabet by 1.0% in the third quarter. SFE Investment Counsel now owns 40,934 shares of the information services provider’s stock valued at $6,789,000 after acquiring an additional 394 shares during the last quarter. Smith Group Asset Management LLC increased its stake in Alphabet by 3.4% in the third quarter. Smith Group Asset Management LLC now owns 209,679 shares of the information services provider’s stock valued at $34,775,000 after acquiring an additional 6,950 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in Alphabet by 1.6% in the third quarter. Pallas Capital Advisors LLC now owns 176,833 shares of the information services provider’s stock valued at $28,774,000 after acquiring an additional 2,825 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC increased its stake in Alphabet by 63.5% in the third quarter. Strategic Wealth Investment Group LLC now owns 101,166 shares of the information services provider’s stock valued at $16,894,000 after acquiring an additional 39,309 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $178.35 on Friday. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company’s fifty day simple moving average is $163.54 and its 200 day simple moving average is $169.59.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 in the previous year, the business earned $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Bank of America lifted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JMP Securities lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,552 shares of company stock worth $40,287,253. Company insiders own 11.55% of the company’s stock.

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.