Pallas Capital Advisors LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Pallas Capital Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,833 shares of the information services provider’s stock after acquiring an additional 2,825 shares during the quarter. Alphabet accounts for approximately 1.2% of Pallas Capital Advisors LLC’s portfolio, making the stock its 10th largest holding. Pallas Capital Advisors LLC’s holdings in Alphabet were worth $28,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Tanager Wealth Management LLP increased its stake in Alphabet by 4.0% in the first quarter. Tanager Wealth Management LLP now owns 22,454 shares of the information services provider’s stock valued at $3,389,000 after acquiring an additional 864 shares during the last quarter. High Note Wealth LLC increased its stake in Alphabet by 5.9% in the first quarter. High Note Wealth LLC now owns 48,484 shares of the information services provider’s stock valued at $7,318,000 after acquiring an additional 2,681 shares during the last quarter. Westwood Wealth Management bought a new position in Alphabet in the first quarter valued at $9,478,000. Finally, REDW Wealth LLC increased its stake in Alphabet by 3.4% in the first quarter. REDW Wealth LLC now owns 6,384 shares of the information services provider’s stock valued at $964,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,552 shares of company stock valued at $40,287,253 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $178.35 on Friday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $163.54 and a 200-day moving average price of $169.59. The company has a market capitalization of $2.18 trillion, a PE ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given 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 (DPR) is presently 10.61%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. KeyCorp raised their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.